On 14 March 2024, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published its interpretation of a ruling by the Court of Justice of the European Union (the CJEU) of 2022 regarding the licensing requirement for the intermediation of group insurances. In this interpretation, the AFM indicates
On 6 March 2024, the European Commission (Commission) published a Corrigendum to Commission Implementing Regulation of 14 December 2022 laying down implementing technical standards as regards supervisory reporting of risk concentrations and intra-group transactions. The Corrigendum amends Annex II Part II of the Commission Implementing Regulation.
The Dutch Central Bank (De Nederlandsche Bank, DNB) has announced that it will send a questionnaire to banks and insurers to further evaluate the Financial Institutions Remuneration Policy Act (Wet beloningsbeleid financiële ondernemingen, Wbfo).
The questionnaire is a component of a broader assessment examining the influence of the Wbfo on
On 30 January 2024, the Amendment Decree Financial Markets 2023 (Wijzigingsbesluit financiële markten 2023) (the 2023 Decree) was published in the Dutch Government Gazette.
The 2023 Decree contains changes to legislation relevant to the Dutch financial markets, including, but not limited to the Decree on Conduct of Business Supervision of Financial Undertakings
On 10 November 2022, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published the results of an investigation it conducted on the status of compliance of financial undertakings with the Sustainable Finance Disclosure Regulation (Regulation (EU) 2019/2088, SFDR) and the related Taxonomy Regulation (Regulation (EU) 2020/852). The
On 19 May 2022, the Dutch Minister of Finance (the Minister) published for public consultation a draft legislative proposal of the Amendment Act on the recovery and resolution of insurers (Wijzigingswet herstel en afwikkeling van verzekeraars, the Amendment Act). As also indicated in the legislative letter of the Dutch Central Bank
The European Insurance and Occupational Pension Authority (EIOPA) has published its feedback statement on its 2021 discussion paper on blockchain and smart contracts in insurance. EIOPA received a number of responses to its earlier paper and has summarised these in the statement. Stakeholders were able to identify a number of use cases for
On 6 April 2022, the Dutch Central Bank (De Nederlandsche Bank, DNB) published two news items about the management of outsourcing risks by insurers and pension funds. In 2020 and 2021, DNB reviewed the way in which insurers and pension funds manage outsourcing risks. DNB concludes that service providers to whom insurers
The European Insurance and Occupational Pensions Authority (EIOPA) has published a Supervisory Statement on the supervision of run-off undertakings. The statement is addressed to the competent authorities with responsibility for insurance supervision in the European Union.
EIOPA acknowledges the potential benefit of run-off for the insurance market, enabling more efficient use of capital
The European Insurance and Occupational Pensions Authority (EIOPA) has published a consultation on its advice to the European Commission in respect of certain aspects relating to retail investor protection. The Commission ran a public consultation in 2021 on retail investor protection and fair treatment of customers. As part of this ongoing initiative the