Buyck Family Advisory Office was appointed by a leading payment provider in Belgium to provide end-to-end counsel for its registration as an Electronic Money Institution in Luxembourg under the supervision of the Commission de Surveillance du Secteur Financier (CSSF).
The engagement, commenced in August 2023, encompasses a meticulously phased approach designed to manage all regulatory, operational, and compliance aspects of the licensing process as governed by Luxembourg’s Law of 10 November 2009 on payment services.
Our scope included review of application materials, financial and strategic plan reviews, operational and governance framework assessments, and work for a comprehensive liaison with the CSSF throughout submission and approval stages. This process to ensure that payment provider meets the rigorous thresholds for capital adequacy, risk management, internal controls, AML/CTF compliance, and governance protocols necessary for license approval.
The mandate also covers guidance on structuring and establishment of sound operational frameworks, all tailored to Luxembourg’s regulatory environment.
Through a collaborative, iterative process with close engagement, we aimed to understand the probability of successful licensing, while ensuring the company’s readiness for sustainable operational excellence post-approval.
This engagement highlights our role as a trusted partner in navigating complex financial regulatory processes, combining strategic expertise and disciplined execution tailored to the evolving fintech landscape.