The Netherlands

Topic: Digital finance

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AFM report on capital markets sector’s vulnerability to cyber threats

On 29 December 2022, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a report titled ‘Capital Markets Information Security Monitor’ (the Report). According to the AFM, business processes of capital market institutions (e.g. trading venues, proprietary traders, and clearing & settlement institutions) are heavily and increasingly dependent on complex IT … Continue Reading

AFM reminds ‘finfluencers’ of the applicable rules

On 20 December 2021, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a report with the results of an exploratory study into investor protection requirements relating to social media posts titled “The pitfalls of ‘finfluencing’” (the Report). The Report is based on an exploratory study carried out by the AFM … Continue Reading

DORA review: Member States consider inclusion of payment card networks and retail payment infrastructures

On 28 April 2021 the Portuguese Presidency of the Council held a meeting of a Council working group in order to continue its legislative review of the proposed regulation on digital operational resilience for the financial sector (DORA). During the meeting, Member States discussed certain issues relating to the scope of the proposed legislation, as … Continue Reading

Member States discuss proportionality in DORA

On 12 April 2021 the Portuguese Presidency of the Council held a meeting to continue Member States’ discussions on the proposed regulation on digital operational resilience for the financial sector (DORA). The agenda for the meeting included discussion on proportionality in DORA as well as scope and timeline of specific regulatory technical standards (RTS) and … Continue Reading

European Parliament ECON Committee discusses draft reports on MiCA, DORA and DLT pilot regime

On 14 April 2021, the European Parliament’s Committee on Economic and Monetary Affairs (ECON) held a committee meeting in which it discussed the main legislative proposals under the European Commission’s (Commission) Digital Finance Strategy. During the discussion, the committee members considered the draft reports on the following legislative proposals: Proposal for a Regulation on Markets … Continue Reading

Council organises first working group on DORA proposal in 2021

On Thursday, 21 January, the Portuguese presidency of the Council holds its first working group on the review of the European Commission’s proposal for a Regulation on digital operational resilience for the financial sector (DORA). The Council is still in its initial phase of examining the proposal. The Council Presidency Is taking an issue-by-issue approach, … Continue Reading

Member States continue DORA review

On Tuesday, 8 December 2020, the outgoing German Presidency of the Council held another working group to continue its substantive review of the European Commission’s proposal for regulation on digital operational resilience in financial services (DORA). On the agenda for discussion was, among other, in-depth review of certain provisions concerning third-party ICT service providers. Key … Continue Reading
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