ELM Sch 2 Notification requirements
1 |
The aim of the guidance in the following table is to give the reader a quick overall view of the relevant requirements for notification and reporting. |
2 |
It is not a complete statement of those requirements and should not be relied on as if it were. |
Handbook reference |
Matter to be notified |
Contents of notification |
Trigger event |
Time allowed |
Projected amounts of e-money outstandings |
Revised projections under ELM 2.5.4 R |
Original projections significantly incorrect |
Within ten business days of need for revised projections having been established |
|
Reportable large exposure |
Pending or existing reportable large exposure not already notified |
A proposal to enter into a transaction or transactions that would result in a reportable large exposure or, if not notified at the proposal stage, once a reportable large exposure exists |
Immediate |
|
Intention to launch a promotion under which the price paid by purchasers of e-money is less than its monetary value |
Intention and details about the promotion |
Decision to launch such a promotion |
Immediate |
|
As above |
Changes in expectations and any substantial difference between expectations and actual outcome |
Fact of change or difference in outcome |
Immediate |
|
Periodic reports |
Form ELM-SI |
End of each half financial year |
Within tenbusiness days of the end of each half financial year |
|
Change reports |
Change in conditions in ELM 8.4 |
Fact of change |
Within two business days of the change occurring |
|
Where small e-money issuer's total liabilities exceed 5 million euro |
Form ELM-SI |
Fact of excess |
Within two business days of the excess occurring |
|
Corrections to information provided |
Full details, an explanation for the error and the correct information. |
On small e-money issuer's becoming aware of the need to correct the information |
Immediately |