Prudential status of payment institutions and electronic money institutions

Boulevard de Beriaimont 14 - BE-1000 Brussels
Phone +32 2 221 48 66
Company number: 0203, 201. 340
RPM (Trade Register) Brussels www. nbb. be mBanqueNationaleBank DEBELGIQUE VAN BELGIE Eurosystem Circular Brussels, 8 July 2020 Reference: NBB 2020 027 Contact person:
Michiet Van Acoleyen
Phone+32 2 221 3962
Michiel.VanAcoleyen@nbb. be
Prudential status of payment institutions and electronic money institutions Scope Payment institutions as referred to in Article 2, 8° and electronic money institutions as referred to in Article 2, 73° of the Law of 11 March 2018 on the legal status and supervision of payment institutions and electronic money institutions, access to the activity of payment service provider and the activity of issuing electronic money, and access to payment systems (hereinatter referred to as "the Law"). Summary/Obiectives 77i/s Circular aims to further outline the prudential status of payment institutions and electronic money institutions (hereinafter referred to as "the institutions"). More specifically, it indicates which of the circulars of the National Bank of Belgium (hereinafter referred to as "the Bank") apply by analogy - with or without modifications - to these institutions. Structure

1. 'Fit and proper" standards;
2. Appropriate organisation;
3. Reporting by senior management;
4. Special mechanisms;
5. Prevention of money laundering and terrorist financing;
6. Duty of cooperation of accredited statutory auditors and accredited auditors
7. Inspections;
8. Professional indemnity insurance;
9. Authorisation of payment institutions
10. Incident reporting:
11. Operational and security measures;
12. Fraud reporting;
13. Periodic reporting requirements.
    NBB_2020_027 - 8 July 2020 Circular- Page 1/9