Register electronic money institutions

With the implementation of Directive 2009/110/EC on the taking up, pursuit and prudential supervision of the business of electronic money institutions (EGI’s) you will find an overview of EGI’s with an authorisation or those who have notified the De Nederlandsche Bank NV (DNB). This Directive intends to create a clear legal framework designed to strengthen the internal market while ensuring an adequate level of prudential supervision

An EGI must have an authorisation to provide her activities based upon Article 2 Section (10b) of the Act on the financial supervision (Wft) unless the EGI has an exemption. The exempted EGI’s are also in this register. The exempted EGI’s are not supervised by the DNB.

An EGI must have an authorisation to provide her activities based upon Article 2 Section (10b) of the Act on the financial supervision (Wft) unless the EGI has an exemption. The exempted EGI’s are also in this register. The exempted EGI’s are not supervised by the DNB.

In this register are also (foreign) EGI’s which issue electronic money based upon the European Passport. These EGI’s are supervised by the home supervisor. Electronic money institutions from other countries of the European Economic Area (EEA) could issue electronic money services based upon the European Passport through an Agent in the Netherlands. DNB registers these agents of foreign electronics money institutions without obligation to register. The registration of these agents are an extra service to the public. However the possibility may exist that the registration of incoming agents differs from the registration of the home supervisor.

Brexit

The United Kingdom (UK) left the European Union (EU) on 31 January 2020. The withdrawal agreement between the EU and the UK provides for a post-Brexit transition period, which will end on 31 December 2020. During this transition period, EU law continues to apply to and in the UK (Article 127). References to Member States will include the UK (Article 7), with a few exceptions, none of which are relevant to financial services. Consequently, entries in the Financial Supervision Act (Wft) register for cross-border services from or to the UK, including Gibraltar, via passporting rights for providing financial services, or for branch offices established in the UK and vice versa, remain valid for the duration of the transition period.

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