Regulatory Alerts2013-05-16
Added · Updated
Definition and Authorization of Exchange Institutions
The Financial Supervision Act (Wft) prohibits pursuing the business of an exchange institution without appropriate authorization from De Nederlandsche Bank (DNB). An exchange institution is defined as an entity performing exchange transactions, which include currency exchanges and the payment of coins and banknotes upon presentation of credit cards or specific documents such as cheques and money orders. DNB is responsible for issuing these authorizations and supervising the institutions.
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