Regulatory Alerts2013-05-16
Added · Updated
Prohibition on operating as an electronic money institution without authorisation
Entities are prohibited from operating as electronic money institutions under Section 2:10a of the Financial Supervision Act unless they hold authorisation from De Nederlandsche Bank (DNB) or qualify for an exemption. Non-compliance constitutes a criminal offence under the Economic Offences Act and may result in enforcement measures such as cease and desist orders, administrative fines, or reports to the public prosecutor's office. DNB actively enforces this requirement through regular checks and has previously imposed significant administrative fines on non-compliant entities.
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