Thursday, November 21, 2002
Pre-paid met vaste toestellen
Posted by Simon on 13:39 | link
Friday, November 15, 2002
Electronic Money and Electronic Money Institutions: a position paper on regulation, definitons and the market
We invite you to read the complete summary or download the Word document (131 kB).
In the paper we conclude that, at present, there is insufficient harmonisation of the prudential supervision framework for electronic money. More specifically, the concept of a technology-neutral approach has not yet been fully adopted and harmonised. As a result:
- a particular e-money system may qualify as e-money in one member state, while in another member state it will be considered a remote banking system,
- even within member states, functionally similar e-money systems may qualify differently on the basis of their distinct technical features.
1.1a2 urges European competent supervisors:
1- to postpone local compliance activities in the domain of electronic money and electronic money institutions until their supervisory approaches have been harmonised and are in accordance with the principle of technological neutrality,
2- to consider the functional approach of the Financial Services Authority as the basis for the harmonised approach to supervision of electronic money institutions,
3- to recognise the relevance of recent and future product developments in the mobile telecom industry to the electronic money debate.
Posted by Simon on 19:15 | link