Insights
Client Alerts
Electronic Money: New Authorisation Regime Effective In The United Kingdom (UK) From 9 February 2011
January 21, 2011
Thomas O'Riordan and James Gray
On 19 January 2011, the new Electronic Money Regulations (SI 2011/99) (the Regulations) were laid before Parliament to implement a new authorisation and prudential supervisory regime in the UK under the Second Electronic Money Directive (Directive 2009/110/EC) (2EMD) for certain persons issuing electronic money (other than banks and building societies).