Payment services and electronic money
Manager: José Hervás Castro – Socio
Contact: jose@hervas-abogados.com
For more than twenty years, Hervás Abogados has been assisting clients in the drafting of authorisation and registration applications, the drawing up and/or reviewing of the entirety of documentation to be submitted to the Bank of Spain and the undertaking of the necessary liaison with the Bank of Spain throughout the entire process until obtaining authorisation and registration in the Bank of Spain’s Register of Institutions. All of this is subject to the service provision regime that is of most interest to the client.
Hervás Abogados likewise offers its consultancy services in regulatory matters in relation to payment services and electronic money, as well as other financial services, undertaking the necessary liaison with the Bank of Spain, pursuant to the service provision regime of most interest to the client. Hervás Abogados likewise assists institutions in their cross-border activities through its network of collaborating law firms in the member countries of the European Union.
Hervás Abogados is currently entrusted with the provision of legal consultancy service to the Spanish Association of Payment Institutions (AENPA) and represents that body in the European Payment Institutions Federation (EPIF).
Payment Services and Electronic Money
- Authorisation of payment institutions (PIs).
- Authorisation of electronic money institutions (ELMIs).
- Registration procedure for Account Information Service Providers – aggregators (AISPs)
- Authorisation of financial information service providers (Financial Data Access (FiDA) Regulation)
- Cross-border activity of payment and electronic money institutions.
- Suitability assessment procedures for acquirers of significant holdings in PIs and ELMIs.
- Consultancy in relation to the regulation and supervision of payment services and electronic money.
- Mandatory information which must be provided by payment and electronic money service providers to the various Bank of Spain supervisory bodies.
- Drafting of contractual documentation and internal control and security procedures (ICT).
- Bank of Spain supervisory procedures. Requirements and inspections.
- Training courses for senior management and regulatory compliance departments managers.
- Training courses for the customer service departments managers.
Specialised services
Authorisation and registration of regulated entities
- Payment Institutions (PI).
- Electronic money institutions (ELMIs).
- Account information service providers -aggregators- (AISPs)
- Financial Information Service Providers (Financial Data Access (FiDA) Regulation).
- Currency exchange establishments.
Regulatory consultancy
- Regulation and supervision of payment services and electronic money.
- Mandatory information which must be provided by payment and electronic money service providers to the various Bank of Spain supervisory bodies.
- Suitability assessment procedures for acquirers of significant stakeholdings in PIs and ELMIs.
- Suitability assessment procedures of PIs and ELMIs “senior management”.
- Cross-border activity of payment and electronic money institutions.
- Drafting of contractual documentation and internal control and security procedures (ICT).
- Bank of Spain supervisory procedures. Requirements and inspections.
Training courses for senior management and SAC incumbents.
- In-person and online training courses for senior management and regulatory compliance departments managers.
- In-person and online training courses for customer service manager incumbents.