Press release on the new operating regime for the United Kingdom (including Gibraltar) entities providing banking, payment and electronic money services in Romania
13.01.2021
As of January 1, 2021, entities from the United Kingdom (including those authorized in Gibraltar) that provided in Romania banking, payment and electronic money services, through branches/agents/distributors or directly, no longer benefit from the single passport regime under the authorization of the competent authority of origin in the United Kingdom.
Therefore, from 1 January 2021, they are treated as entities from third countries regarding the possibility to carry out activity in Romania through branches / agents / distributors or directly, requiring in this respect, an authorization granted by National Bank of Romania or by a competent authority from another EU Member State.
Consequently, in the absence of such authorization, the activity of entities from the United Kingdom (including those authorized in Gibraltar) that have notified the provision of services in Romania through branches / agents / distributors or directly ceased.
At the same time, please be informed that the lists comprising the above-mentioned entities can be consulted here .
We also mention that, in order to ensure the continuity of the cooperation in the field of supervision, in January 2020, National Bank of Romania concluded with the competent authorities of the UK (Bank of England - Prudential Regulation Authority and Financial Conduct Authority) a Memorandum of Understanding, formalizing the cooperation and exchange of supervisory information, which can be consulted here.