The protocol is aimed at facilitating the cross-border exchange of information between national (home and host) supervisors overseeing agents and branches of payment institutions.
This Cooperation Protocol (the “Protocol”) between the “Home Supervisor” and the “Host Supervisor” is intended to assist with the passport notification and registration process and facilitate the effective supervision of agents and branches of the “Payment Institution” in “Host” Member State in accordance with Articles 17, 21 and 25 of the PSD.
Furthermore the Protocol is intended to facilitate the effective supervision of the activities of the “Payment Institution” through its agents and branches in “Host” Member State for AML/CTF purposes in accordance with Article 37(1) of the 3rd AMLD.
The Protocol should be regarded as a permanent, although flexible, structure for cooperation and coordination among the Home Supervisor and the Host Supervisor with regard to registration and supervision of agents and branches of “Payment Institutions”. National laws may provide powers and responsibilities to the competent supervisors that go beyond the provisions of this Protocol. The Protocol is not intended to replace or derogate such laws, and the parties to this Protocol do not waive any powers or responsibilities granted by their respective national laws.
The Protocol has regard to the European Supervisory Authority (ESA) Regulations. In particular:
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Article 1 of Regulation (EU) No 1093/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Banking Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/78/EC (the “EBA Regulation” and “EBA”);
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Article 1 of Regulation (EU) No 1094/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Insurance and Occupational Pensions Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/79/EC (the “EIOPA Regulation” and “EIOPA”); and
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Article 1 of Regulation (EU) No 1095/2010 of the European Parliament and of the Council of 24 November 2010 establishing a European Supervisory Authority (European Securities and Markets Authority), amending Decision No 716/2009/EC and repealing Commission Decision 2009/77/EC (the “ESMA Regulation” and “ESMA”).
Full Protocol
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