Client updates / payment companies

New Regulations Ahead: Reporting Obligations for Payment Companies and License Holders

22 September 2024 / Anat Even-Chen, Ori Rodriguez

The Israel Securities Authority recently published a draft of a new directive for payment companies and holders of basic initiation licenses or approvals regarding reporting to the Authority. According to the Draft, payment companies and holders of basic initiation licenses or approvals are required to submit annual, semi-annual, quarterly, and immediate reports on various topics, such as audited or reviewed financial data, operational data, compliance with capital requirements, technological measures, corporate governance, compliance etcetera.

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Categories: Capital Markets | Capital Markets Regulations | Financial Regulation | Regulation

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Client updates / payment companies