How do the Regulations apply to a non-EEA credit institution operating through a branch in the UK?
The conduct of business requirements apply to all payment service providers, including UK branches of non-EEA credit institutions providing payment services. The Commission has advised that their interpretation of the PSRs is that such firms need to incorporate within the EEA and seek authorisation in order to carry out payment services. We have set out our position in question seven of the Perimeter Guidance.
