On 18 November 2024, the Ministry of Foreign Affairs (Ministerie van Buitenlandse Zaken) published its consultation on the draft bill of the Corporate International Responsibility Act (Wet internationaal verantwoord ondernemen) (the Act). The Act will implement the EU Corporate Sustainability Due Diligence Directive (Directive 2024/1670, the CSDDD), into Dutch
Increase in AIFM-Light Managers and their assets under management in the Netherlands
On 30 October 2024, the Dutch Authority for the Financial Markets (Autoriteit Financiele Markten, AFM) released findings from its exploratory study on the rising number of fund managers operating under the so-called Alternative Investment Fund Managers Directive (AIFMD) light regime. The AIFM-light regime applies to smaller fund managers with assets under €100 million
AFM explorative study into ESG data risk management
On 28 October 2024, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published the results of an explorative study (in the form of a report) into how asset managers deal with the availability, reliability and comparability of Environmental, Social and Governance (ESG) data. The study
DNB urges pension funds to address ESG Risks
On 28 October 2024, the Dutch Central Bank (De Nederlandsche Bank, DNB) published their findings from its sector-wide self-assessment on Environmental, Social, and Governance (ESG) risk integration among pension funds. The report reveals that while many pension funds have taken steps to incorporate ESG risk into their policies, there is still a
ESAs respond to the EC’s rejection of the draft ITS on the register of information under DORA
On 15 October 2024, the European Supervisory Authorities (ESAs) issued an opinion regarding the European Commission’s (EC) rejection of the draft Implementing Technical Standards (the Draft ITS) for the register of information under the Digital Operational Resilience Act (Regulation (EU) 2022/2554, DORA). DORA requires financial entities to maintain and
Crypto Supervision: Minister opts for minimal supervision scenario with increased risk tolerance
Following an article published in the Dutch Financial Times on 28 July 2024, members of the Dutch Parliament submitted questions to the Minister of Finance regarding the upcoming crypto supervision by the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, AFM) under the Markets in Crypto-Assets Regulation (MiCAR). The
EBA statement on the application of MiCAR to ARTs and EMTs
On 5 July 2024, the European Banking Authority issued a statement on the application of the Regulation on markets in crypto-assets (MiCAR) to asset-referenced tokens (ARTs) and e-money tokens (EMTs).
Key points in the statement include:
- The EBA expects any person who intends to commence ART/EMT activities to fully
New Global Regulation Tomorrow Plus podcast: 30 June 2024 – MiCAR’s first milestone
In our latest Global Regulation Tomorrow Plus podcast, Anna Carrier, Nikolai de Koning, Sebastien Praicheux and Simon Lovegrove discuss the first milestone of Regulation (EU) 2023/1114 on Markets in Crypto-assets (MiCAR).
Listen to the episode here.
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.
2024 FinTech Outlook
In our 2024 FinTech Outlook, our lawyers from across Europe, the Middle East, Asia and the US share their insights on what to expect across the regulatory landscape in relation to FinTech and cryptoassets in 2024.