RE:It's all the Central bank of Spain's fault since 2018 lol This is absolutely the BEST News release to read fully ( BELOW ) as it shows that Hogan Lovells are very incompetent and unknowledgeable about a PSD2 license application and weren't even aware of newer requisites. Big pump and waste of money , don't you think ? or was it all pre-planned for the Insiders " escape" ??
NEWS RELEASE
February 20th, 2019
Timeline of PSD2 License Petition
As previously disclosed in the company’s news release dated December 10th, 2018, the wholly owned subsidiary, RevoluPAY S.L., estimated timeline for Proprietary PSD License Petition commenced on Nov 22nd, 2018, subject to a 90 day statutory approval term. However, as explained in the subsequent news release dated January 7th, 2019, the central bank adopted the newer PSD2 license requisites on the following day, specifically the 23rd Nov 2018. The company had therefore applied for the previous PSD license one day before the introduction of the sweeping changes introduced within the newer and, in the company’s opinion, more beneficial, PSD2 licensing. During the interim term, management and, Hogan Lovells, have made two separate personal visits to the Central Bank and, have successfully updated the original petition to meet the criteria of the PSD2 licensing requirements. RevoluPAY S.L received correspondence from Hogan Lovells, dated 19 February, in which the law firm advises that it has spoken with officials at the Central Bank concerning the RevoluPAY S.L pending PSD2 license application and, expects to now have final news by March 8th, 2019
Jimpro63 wrote:
Says this little Venture trading symbol
NEWS RELEASE
December 20th, 2018
The company is pleased to announce that it has successfully complied with the RevoluPAY® security enhancements imposed by the Central Bank, with whom the RevoluPAY® License is currently pending its 90-day statutory approval period.