Regulatory Alerts2022-02-01
Added · Updated
Overview of Notification and Reporting Requirements under the Payment Services Supervision Act (ZAG)
This document outlines the specific notification and reporting obligations for payment institutions and e-money institutions in Germany, categorized into five groups based on their business scope and regulatory status. It details the required submissions, including monthly, quarterly, half-yearly, and annual reports, as well as ad-hoc notifications for events such as insolvency, significant shareholding changes, outsourcing, and serious operational incidents. The requirements are derived from the Payment Services Supervision Act (ZAG), the ZAG Monthly Statement Ordinance, the ZAG Notification Ordinance, and the ZAG Institutions' Own Funds Ordinance, with specific forms and deadlines designated for submission to the Federal Financial Supervisory Authority (BaFin) or the German Federal Bank.
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