Tracks financial services regulatory developments and provides insight and commentary
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.
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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:
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On 2 July 2019, the Act implementing the Fifth Anti-Money Laundering Directive (5MLD) (Implementatiewet wijziging vierde anti-witwasrichtlijn, the Proposed Act) was submitted to the Dutch Parliament (Tweede Kamer).
The Proposed Act will implement the 5MLD into Dutch law, primarily by amending the Act on the prevention of money…
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,…
On 26 June 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) published a newsletter with updates relevant for the insurance sector.
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