Regulatory Alerts2022-12-21
Added · Updated
Circular to Financial Institutions and other Service Providers on Amendments to FIR/01
The revised Financial Institutions Rule FIR/01 introduces paragraph 58A, requiring the Authority to assess notifications under article 3(2A)(k) of the Financial Institutions Act based on EBA Guidelines on limited network exclusions under PSD2. It also inserts paragraph 15B to align with the Crowdfunding Regulation, clarifying that project owners or investors accepting funds or granting loans for crowdfunding projects do not require authorization as financial institutions for these specific activities. The revised Rule comes into force with immediate effect.
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Topics
licensing
open-banking
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