The European Banking Authority has published a Consultation on “Draft Guidelines on the information to be provided for … authorization as [a] payment institution [or] e-money institution and for the registration as [an] account information service provider“.

The EBA’s draft Guidelines specify:

  • the types of information that applicants are required to submit, to meet the requirements in the second Payment Services Directive; and
  • information requirements in respect of the process applicants must have in place to file, monitor, track, and restrict access to, sensitive payment data; their business continuity arrangements internal anti-money laundering controls and other matters.

The Guidelines will apply in full to payment and e-money institutions. Only some, or some parts, of the Guidelines will apply to account information service providers and payment initiation service providers.

The deadline for submission of comments is 3 February 2017.