Regulatory Alerts2019-02-18
Implementation of EBA Guidelines on Conditions for Exemption from the Urgency Mechanism under Article 33(6) of Delegated Regulation (EU) 2018/389
The French Prudential Supervision and Resolution Authority (ACPR) has declared its compliance with the European Banking Authority's guidelines regarding exemptions from the urgency mechanism under Article 33(6) of Delegated Regulation (EU) 2018/389. These guidelines establish the specific conditions that payment service providers, including credit institutions, payment institutions, and electronic money institutions, must satisfy to benefit from such an exemption. The ACPR mandates that these entities implement all necessary measures to adhere to these requirements in accordance with Article 16 of Regulation (EU) No 1093/2010.
NOTICE Implementation of the European Banking Authority's guidelines concerning the conditions to be met to benefit from an exemption from the urgency mechanism pursuant to Article 33, paragraph 6, of Delegated Regulation (EU) 2018/389 (regulatory technical standards on strong customer authentication and common and secure open standards of communication) The Prudential Supervision and Resolution Authority has declared itself in compliance with the guidelines of the European Banking Authority (EBA/GL/2018/07) concerning the conditions to be met to benefit from an exemption from the urgency mechanism pursuant to Article 33, paragraph 6, of the Delegated Regulation (EU) 2018/389 (regulatory technical standards on strong customer authentication and common and secure open standards of communication). These guidelines are applicable to payment service providers - credit institutions, payment institutions and electronic money institutions - who must do everything possible to comply with them, in accordance with the provisions of Article 16 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing the European Banking Authority.