MEMBER STATES FACE LEGAL ACTION OVER E-MONEY RULES
May 1st, 2012
BY KEITH NUTHALL
THE EUROPEAN Commission is threatening legal action against Belgium, Spain, France, Cyprus, Poland and Portugal over alleged failures to bring their national electronic money regulations in line with European Union (EU) law, notably the e-money directive 2009/110/EC. The legislation tries to harmonise market entry conditions amidst a common level of prudential supervision.
ENDS
THE EUROPEAN Commission is threatening legal action against Belgium, Spain, France, Cyprus, Poland and Portugal over alleged failures to bring their national electronic money regulations in line with European Union (EU) law, notably the e-money directive 2009/110/EC. The legislation tries to harmonise market entry conditions amidst a common level of prudential supervision.
ENDS
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