Implementatiewet herziene richtlijn betaaldiensten

Reactie

Vraag1

The Netherlands is anticipating to no longer make use of the exempt payment institutions regime (companies processing only in NL and under 3 mio only require registration no licensing) for the pro-claimed reason that it is not established that there is a need for it. It would be a great setback for the Dutch market if they see this through. There are currently 76 companies registered as exempt payment institutions utilizing this regime. Absence of the exemption regime would likely result in those companies simply operating outside of the law, as they do not have the resources to opt for a full license. Further, it is rather incomprehensible with the Dutch government’s efforts to foster innovation in the Netherlands and the discussion document “More room for innovation in the financial sector” issued by the regulators in June this year. Many FinTech companies are and will be relying upon their opportunity to work under the exempt regime. Is the regulator anticipating to replace the exempt regime with a license granted under conditions/limited license (“vergunning onder voorwaarden”) and a regulatory sandbox? Can’t they co-exist? What will happen with the 76 registered companies? Are the regulators forcing them like this to partner with an already licensed institution? Even more, a license under conditions will only create an even more unlevelled playing field than currently already the case. The DNB has confirmed verbally at its seminar for payment institutions last month it has no intentions to make the conditions set per company public. This potentially results in different applications with different companies. Even worse, a missed opportunity for any licensed company that is not aware it could also operate its business under a limited license (like a competitor of it is doing).