Regulatory Alerts2011-11-15
Decree of Národná banka Slovenska No. 14/2011 on Authorisation Requirements for Payment and Electronic Money Institutions
Národná banka Slovenska issued Decree No. 14/2011 to specify the detailed documentation and compliance requirements for authorising payment institutions and electronic money institutions. The decree mandates that applicants submit specific evidence regarding the legal origin of funds, the integrity and qualifications of shareholders and management, and robust operational, security, and risk management systems. It further defines the composition of own funds and permissible investments for these entities to ensure financial stability and regulatory oversight.
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