On 20 May 2020, De Nederlandsche Bank (DNB) requested payment and electronic money institutions to provide the financial statements in time.
18 Jun 2020
According to the Financial Supervision Act, payment and electronic money institutions must submit the following within six months after the end of the financial year, i.e. for the financial year 2019 at the latest on 30 June 2020 : the annual accounts, the management report and the data referred to in Articles 361, 391 and 392 of Book 2 of the Civil Code.
In addition, DNB requests payment and electronic money institutions - if applicable - to also send the external auditor's report and management letter. DNB uses this for supervision and can thus gain a better insight into the controlled and sound business operations of the company.
This article was originally published in the May edition of REGWATCH. Read the full edition covering the following jurisdictions:
- European Union
- Hong Kong
- United Kingdom