Consultatie Q&A RvC bij betaalinstellingen en elektronischgeldinstellingen

DNB released a Q&A outlining when a Supervisory Board (SB) becomes essential in payment and electronic money institutions to maintain controlled operations and an effective organizational structure.
Responding to „When is it necessary to form an SB at a payment or electronic money institution to ensure controlled operations and a balanced and efficient organizational structure?“, DNB indicated that an SB might be required in specific cases for a clear, balanced, and compliant organizational structure, as dictated by law.
The Wft requires that payment and electronic money institutions organize their operations to ensure controlled, ethical business practices. Specifically, Article 17 Wft underlines the importance of a clear, balanced, and sufficient organizational structure. DNB has the authority to define particular governance standards for these institutions. An independent SB can play a crucial role in ensuring balanced governance by monitoring the policies and overall operations of payment and electronic money institutions in certain cases.
In determining the need for an SB, DNB evaluates various aspects, including the type, scale, risks, and intricacies of the operations of these institutions, following the principle of proportionality. Additionally, DNB considers the viability of other options besides establishing an SB, in line with the principle of subsidiarity.