1. Any authorised payment institution wishing to
provide payment services for the first time in a Member State other than
its home Member State, in the exercise of the right of establishment or
the freedom to provide services, shall communicate the following
information to the competent authorities in its home Member State:
(a) the name, the address and, where applicable, the authorisation number of the payment institution;
(b) the Member State(s) in which it intends to operate;
(c) the payment service(s) to be provided;
(d) where the payment institution intends to make use of an agent, the information referred to in Article 19(1);
(e) where the payment institution intends
to make use of a branch, the information referred to in points (b) and
(e) of Article 5(1) with regard to the payment service business in the
host Member State, a description of the organisational structure of the
branch and the identity of those responsible for the management of the
branch.
Where the payment institution intends to outsource
operational functions of payment services to other entities in the host
Member State, it shall inform the competent authorities of its home
Member State accordingly.
2. Within 1 month of receipt of all of the
information referred to in paragraph 1 the competent authorities of the
home Member State shall send it to the competent authorities of the host
Member State.
Within 1 month of receipt of the information from
the competent authorities of the home Member State, the competent
authorities of the host Member State shall assess that information and
provide the competent authorities of the home Member State with relevant
information in connection with the intended provision of payment
services by the relevant payment institution in the exercise of the
freedom of establishment or the freedom to provide services. The
competent authorities of the host Member State shall inform the
competent authorities of the home Member State in particular of any
reasonable grounds for concern in connection with the intended
engagement of an agent or establishment of a branch with regard to money
laundering or terrorist financing within the meaning of Directive (EU)
2015/849.
Where the competent authorities of the home Member
State do not agree with the assessment of the competent authorities of
the host Member State, they shall provide the latter with the reasons
for their decision.
If the assessment of the competent authorities of
the home Member State in particular in light of the information received
from the competent authorities of the host Member State, is not
favourable, the competent authority of the home Member State shall
refuse to register the agent or branch or shall withdraw the
registration if already made.
3. Within 3 months of receipt of the information
referred to in paragraph 1 the competent authorities of the home Member
State shall communicate their decision to the competent authorities of
the host Member State and to the payment institution.
Upon entry in the register referred to in Article
14, the agent or branch may commence its activities in the relevant host
Member State.
The payment institution shall notify to the
competent authorities of the home Member State the date from which it
commences its activities through the agent or branch in the relevant
host Member State. The competent authorities of the home Member State
shall inform the competent authorities of the host Member State
accordingly.
4. The payment institution shall communicate to
the competent authorities of the home Member State without undue delay
any relevant change regarding the information communicated in accordance
with paragraph 1, including additional agents, branches or entities to
which activities are outsourced in the host Member States in which it
operates The procedure provided for under paragraphs 2 and 3 shall
apply.
5. EBA shall develop draft regulatory technical
standards specifying the framework for cooperation, and for the exchange
of information, between competent authorities of the home and of the
host Member State in accordance with this Article. Those draft
regulatory technical standards shall specify the method, means and
details of cooperation in the notification of payment institutions
operating on a cross-border basis and, in particular, the scope and
treatment of information to be submitted, including common terminology
and standard notification templates to ensure a consistent and efficient
notification process.
EBA shall submit those draft regulatory technical standards to the Commission by 13 January 2018.
Power is delegated to the Commission to adopt the
regulatory technical standards referred to in the first subparagraph in
accordance with Articles 10 to 14 of Regulation (EU) No 1093/2010.
