EBA publishes Opinion on the nature of passport notifications for agents and distributors of e-money

An opinion has been recently published by the European Banking Authority relating to the nature of passport notifications of payment institutions and e-money institutions (EMIs) who are using agents and distributors located in another Member State. This Opinion will serve as a blueprint for national regulators in assessing when the use of an agent or distributor either falls within the scope of an ‘establishment’ of the appointing institution in the host Member State, or whether it falls under the free provision of services.
Opinion