Regulatory Alerts2019-08-15
Decision on the Standards of Safe and Sound Business Practices in Providing Payment Services through an Agent
The National Bank of Serbia issued this Decision to establish standards for payment institutions, electronic money institutions, and the public postal operator regarding the provision of payment services through agents. It mandates that supervised entities implement internal control systems for continuous risk monitoring and require specific agency agreements that define obligations for anti-money laundering compliance, consumer protection, and supervision. The regulation caps agent commissions at 50% of the transaction fee charged to users and requires entities to align their practices with these rules within six months of the Decision's entry into force.
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