Regulatory Alerts2025-03-13 | 8136Amendments to Central Bank of Armenia Resolution No. 285-N Regarding Payment and Settlement Organizations
The Central Bank of Armenia issued Resolution No. 42-N to amend Regulation 17/01, introducing new requirements for the licensing and supervision of payment and settlement organizations. The changes mandate enhanced due diligence for non-resident entities and beneficial owners holding 10% or more voting shares, including criminal record checks and anti-terrorist list screenings. Additionally, the resolution establishes a new Appendix 3.2 for beneficial owner reference information and requires organizations to report any changes to this data within 10 business days.
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