CSSF clarifies the requirements for persons willing to benefit from the limited network exclusion under PSD II
Related people
01 June 2022
On 18 May 2022, the CSSF published CSSF circular 22/812 (the CSSF Circular) through which it integrates into its administrative practice and regulatory approach the EBA guidelines on the so-called limited network exclusion (LNE) under Directive 2015/2366 (PSD II) (the Guidelines).
The LNE enables service providers to issue certain payment instruments or e-money without requiring a licence under PSD II. In this context, the CSSF also published a press release with further details on the notification process for persons willing to benefit from the LNE (the Press release) and a specific template notification form.