Regulatory co-operation requires payment service providers to report significant events, disclose major changes, and secure approval for corporate restructuring. Payment Service Providers must deal openly and co-operatively with the Authority, report significant events, and communicate proposed major changes to ... Summary
Regulatory co-operation requires payment service providers to report significant events, disclose major changes, and secure approval for corporate restructuring.
Payment Service Providers must deal openly and co-operatively with the Authority, report significant events, and communicate proposed major changes to payment-service features, processes, structure or operations with complete details. Prior approval is required for specified mergers, reorganisations, arrangements, compromises, amalgamations and reconstructions. Payment Service Providers and Third-Party Service Providers must assist the Authority with audits and inspections.
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