Regulatory Alerts2015-03-02 | NBB_2015_12Added · Updated
NBB_2015_12 / Exemption Policy of the National Bank of Belgium under Article 48 of the Law of 21 December 2009 (Payment Services)
The National Bank of Belgium establishes the framework for granting exemptions to legal persons offering payment services under Article 48 of the Law of 21 December 2009, replacing the previous communication NBB_2013_05. Exemptions are granted to entities with a monthly average payment transaction volume not exceeding 3,000,000 euros and whose management personnel have no relevant criminal convictions, subject to specific reporting obligations. Exempted entities must submit semi-annual reports on transaction volumes via Excel and an annual anti-money laundering questionnaire, while maintaining registered auditors to verify compliance with fund protection and volume thresholds.
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