WG-REQ-1516 Word-to-A4-PPT-portrait PSD3 IMPACTS-STAGE-3 PRINT3mmBLEED - Flipbook - Page 6
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HL | PSD3 Impacts
Overview
4 Authorisation/
Re-authorisation
and changes to the
E-money regime
§
§
No significant changes concerning the
procedures of application for authorisation,
control of shareholding and prudential
requirements under Title II of
PSD3; however:
§
additional information is required to
be submitted to address ICT, data
sharing, passporting and winddown arrangements;
§
changes required to the way APIs
and EMIs safeguard to mitigate
concentration risk will need to be
notified to the regulator; and
§
EMIs will need to register their
distributors (like APIs do agents).
Current APIs and EMIs will have two years
to demonstrate compliance with the
incoming prudential requirements.
What is changing?
Authorisation Information (PSD3 Art 3)
More information is required as part of an
application for authorisation under the PSD3,
consisting of:
§ a description of arrangements for the use of
information and communication technology
(
