Standard & Major Payment institution licence
Ongoing requirements (SPI & MPI licence)
"a licensee must ensure ongoing compliance with all applicable requirements set out under the PS Act and other relevant legislation, such as:
- adopting anti-money laundering and countering the financing of terrorism requirements;
- submitting periodic regulatory returns
- complying with the cyber hygiene requirements
- accurately representing the scope of its licence and provide the required disclosures applicable to its business; and
- satisfying annual audit requirements."