Regulatory Alerts2011-11-17
Added · Updated
Notification requirements for payment institution branches in the EEA
Payment institutions must notify De Nederlandsche Bank (DNB) before establishing a branch in another EEA Member State by submitting a completed notification form and supplementary data as specified in section 42a(b) of the Decree on Market Access of Financial Undertakings. DNB initiates a one-month notification period upon receipt of complete data, during which the supervisory authority of the host Member State may react, potentially leading DNB to refuse registration and prohibit the branch from offering services. If no refusal occurs, DNB and the host authority register the branch, allowing it to commence operations, while DNB retains responsibility for ongoing prudential supervision and may request further information at any time.
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