On 26 September 2019, the Decree implementing the Fifth Anti-Money Laundering Directive (5MLD) (Implementatiebesluit wijziging vierde anti-witwasrichtlijn, the Decree) was published for public consultation.

The Decree provides further details on the registration regime of virtual currency exchange platforms and custodian wallet providers that is introduced by the Act implementing 5MLD

On 28 August 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) published several updates in relation to PSD2.

  1. Exemptions from contingency mechanism: sixteen account servicing payment service providers (ASPSP) have applied with DNB for an exemption from the contingency mechanism requirement under Article 33(6) of Delegated Regulation (EU) 2018/389. DNB

On 28 August 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) published a final Q&A which provides clarification on whether subscriptions (abonnementen) offered to consumers may be considered as a non-life insurance (schadeverzekering) product

DNB indicates that subscriptions exist in various sectors in multiple variations and that the

On 28 August 2019, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten AFM) published a news item addressing the licence obligation for proprietary trading firms (handelaren voor eigen rekening), in particular in case orders are executed on behalf of clients.

The AFM indicates in order to determine whether someone

On 16 August 2019, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a news item indicating that in the last week of August, alternative investment funds and their managers will be receiving a questionnaire in relation to anti-money laundering and sanctions risks. This questionnaire is circulated annually

On 17 July 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) launched a public consultation on its revised guidance document on the Act on the prevention of money laundering and terrorist financing (Wet ter voorkoming van witwassen en financieren van terrorisme, Wwft) and the Sanctions Act 1977 (Sanctiewet

On 5 July 2019, the Act on the further remuneration measures for the financial sector (Wet nadere beloningsmaatregelen financiële sector, the Act) was published for public consultation. The Act will, among other things, propose the following amendments to the current remuneration rules:

  • Introduction of a statutory retention period for certain financial instruments

On 1 July 2019, the legislative proposal for the Bank Data Retrieval Portal Act (Wetsvoorstel verwijzingsportaal bankgegevens, the Proposal) was sent to the Dutch Parliament (Tweede Kamer).

The Bank Data Retrieval Portal (BDRP) is an electronic system that allows certain Dutch authorities, including but not limited to the police,