Regulatory Alerts2020-04-29 | 24020Added · Updated
Draft Guideline for Non-Bank Non-Financial Institutions in Retail Payments
This guideline establishes registration requirements and standards of conduct for Non-Bank Non-Financial Institutions (NBNFIs) providing payment services or operating non-interbank payment systems in Trinidad and Tobago. It mandates that entities register with the Central Bank, submit a $5,000 application fee, and comply with governance, risk management, AML/CFT, and ICT security obligations. The document replaces previous guidelines and outlines procedures for registration, renewal, and cancellation, including a six-month operational commencement deadline and a 21-day notice period for potential deregistration.
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