On 19 June 2018, the Dutch Minister of Finance (Minister) sent the following documents to the Dutch Parliament (Tweede Kamer):
- proposed amendments to the legislative proposal on the Act implementing the revised Payment Services Directive (PSD2, EU/2015/2366) (Implementatiewet herziene richtlijn betaaldiensten, the Proposed Act); and
- the Further Memorandum of Reply (Nadere memorie van antwoord) on the Proposed Act.
The proposed amendments concern technical reparations and introduce additional provisions, such as:
- attributing the supervision of the obligation on explicit payment user consent for the use of payment data to the Dutch Personal Data Protection Authority (Autoriteit persoonsgegevens), as this obligation is strongly connected with the EU General Data Protection Regulation;
- amending Section 3:95 of the Act of the Financial Supervision (Wet op het financieel toezicht) dealing with the declaration of no objection (DNO) required for qualifying holdings in certain financial undertakings. The revised Proposed Act now also introduces a requirement to obtain a DNO for qualifying holdings in electronic money institutions (elektronischegeldinstellingen). A qualifying holding in an account information provider (rekeninginformatiedienstverlener) will no longer require a DNO.
In the Further Memorandum of Reply, the Minister answers 143 queries raised by the Dutch Parliament on the Proposed Act.
View the Proposed Amendments (Dutch only), 19 June 2018.
View the Further Memorandum of Reply (Dutch only), 19 June 2018.
