There are additional ongoing requirements in relation to E-Money institutions once they are authorised. These are set out in the document entitled “Prudential Requirements for Electronic Money Institutions authorised under S.I. No. 183 of 2011 – European Communities (Electronic Money) Regulations 2011”. The following list is not exhaustive and is intended to serve as a guide only. If any E-Money institution is unclear of its obligations, they should contact Consumer Protection: Retail Intermediaries and Payment Institutions Division. Contact details are available in the Contact Us section.
Change of Director / Manager
Any change of director/manager should be notified to the Central Bank. This includes both proposed appointments and resignations. All proposed appointees are subject to the “Fitness & Probity” regime as outlined in the Processing Applications section.
Change in Qualifying Holding
Changes in qualifying holdings in E-Money institutions are subject to the prior notification to the Central Bank. Firms are obliged to advise the Central Bank on an annual basis of their ownership structure.
Change of Company Name
The Central Bank must first approve any change in company name before it is submitted to the Companies Registration Office.
Application for Extension of Authorisation
An application by a firm to extend its authorisation as an E-Money institution requires the prior approval of the Central Bank.
Change of Address
Any proposed change of address by an authorised E-Money institution must be notified in advance to the Consumer Protection: Retail Intermediaries and Payment Institutions Division. This will allow us to update our records and systems on a timely basis.
If there is uncertainty regarding whether a change within a firm constitutes a material change for supervisory purposes, the E-Money institution should contact the Consumer Protection: Retail Intermediaries and Payment Institutions Division directly. Contact details are available in the Contact Us section.