As the deadline of 17 January 2025 for the Digital Operational Resilience Act (DORA) approaches, financial undertakings must intensify their efforts to meet its stringent requirements. Both the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) and the Dutch Central Bank (De Nederlandsche Bank, DNB
AFM update on DORA: ICT risk management
On 7 March 2024, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published its third update on the European Digital Operational Resilience Act (Regulation (EU) 2022/2554, DORA). This update focuses on the requirements concerning the ICT risk management framework. The update is available via this link.
MiCA licence and notification
On 15 February 2024, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) has confirmed that market participants will be able to submit an application for a CASP licence or notification to the AFM as of 22 April 2024. If approved, the licences or notifications will take effect from
AFM – Getting ready for DORA: Managing ICT risk for third-party providers
On 1 December 2023, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published its second publication on the Digital Operational Resilience Act (Regulation (EU) 2022/2554, the DORA). The publication focuses on the management of information, communication and technology (ICT) risks for third-party providers and aims
The Revised Code of Dutch Pension Funds
On 21 November 2023, the decision of the Dutch Minister for Poverty Policy, Participation and Pensions (Minister voor Armoedebeleid, Participatie en Pensioenen) to adopt the revised Code of Dutch Pension Funds (Code Pensioenfondsen) was published in the Government Gazette (only available in Dutch).
The Pension Fund Code contains standards for good
Dutch Banking Association releases new sector standard for CDD applied by banks engaging with crypto service providers
Crypto service providers (cryptodienstverleners) currently registered with the Dutch Central Bank (De Nederlandsche Bank, DNB) will soon have increased clarity regarding the customer due diligence required for their banking transactions. This clarity is being provided through the new sector standard established by the Dutch Banking Association (Nederlandse Vereniging van
AFM’s Trend Monitor 2024
On 7 November 2023, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published its ‘Trend Monitor 2024’ report highlighting key trends that will shape the financial landscape in the coming year. The AFM notes that 2024’s financial landscape will be shaped by geopolitical developments, including the
AFM position paper on improving the SFDR
On 2 November 2023, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a position paper on improving the Sustainable Finance Disclosure Regulation (Regulation (EU) 2019/2088, the SFDR). The AFM proposes these improvements in the light of the European Commission’s current consultation on a review of the