Regulatory Alerts2021-07-18
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Commission Delegated Regulation (EU) 2021/1722 on cooperation and information exchange for cross-border payment supervision
The European Commission adopted Delegated Regulation (EU) 2021/1722 to establish regulatory technical standards for cooperation and information exchange between competent authorities supervising payment and electronic money institutions providing cross-border services. The regulation mandates the designation of single contact points, standardizes communication via specific forms, and sets a twenty-working-day deadline for responding to information requests. It further defines procedures for coordinating on-site inspections and requires host member states to specify reporting formats and languages for periodic data submission by foreign institutions.
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