Netherlands:
Introduction Of Suitability Test And Closer Cooperation Between Financial Supervisors
16 May 2012
De Brauw Blackstone Westbroek N.V.
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A Bill will enter into force on 1 July 2012 amending the current
rules regarding the expertise required of day-to-day policy makers
and supervisory board members at financial undertakings. The
existing expertise test will be replaced by a wider suitability
test.
In addition, the rules concerning cooperation between the Dutch
Central Bank (DNB) and the Netherlands Authority for the Financial
Markets (AFM) in the granting of licences will change. If one of
the two supervisors is uncertain about the integrity or suitability
of a managing or supervisory director, the negative view will
prevail, even if this is not the licensing supervisor's
view.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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