Regulatory Alerts2011-11-23
Instruction No. 2011-I-17 amending the application form for the approval of payment institutions
The Prudential Control Authority issued Instruction No. 2011-I-17 to amend the application dossier required for the approval of payment institutions under the Monetary and Financial Code. The modifications update specific sections of the form to require detailed disclosures regarding capital adequacy calculations, internal control procedures, and the management of third-party agents. Furthermore, the instruction expands requirements for anti-money laundering risk classifications, technical architecture descriptions, and comprehensive risk analysis regarding payment instruments and information systems.
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