- Relevant sections of the law for applications for authorisation as a payment institution
- DNB Guidance on the Anti-Money Laundering and Counter-Terrorist Financing Act and the Sanctions Act
- Gebruikersgids voor het opzetten van een goede SIRA
Financial Supervision Act (Wet op het financieel toezicht - Wft).
In the Netherlands, supervision of payment service providers and their market access is governed by the Financial Supervision Act (Wet op het financieel toezicht – Wft). The Wft also stipulates that payment service providers need authorisation to operate. The authorisation requirement and the supervision of payment service providers are based on the European Payment Services Directive (2007/64/EC). DNB is responsible for granting authorisation and exercising prudential supervision of payment service providers. In addition, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten – AFM) is responsible for market conduct supervision, while the Authority for Consumers & Markets (ACM) supervises non-discriminatory access to payment systems.
Amendments to the Wft
The recently adopted new European Payment Services Directive II (PSD II) will be implemented in national legislation. As a result, amendments will be introduced to the Wft and secondary legislation such as the Decree on Prudential Rules for Financial Undertakings (Besluit prudentiële regels Wft). Recent developments in legislation can be found on the page: Current developments and events