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This Newsletter is also available in Dutch » |
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National Regime: register in time! |
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The National Regime was introduced on 1 July 2008 and provides for exemption for businesses that advise on investment funds or pass on related orders.
Existing consultants and brokers will be able to use the National Regime by operation of law (see our newsletter for June 2008),
but they need to register with the Netherlands Authority for the Financial Markets (AFM) by no later than 1 October 2008.
Read on »
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Lower House approves bill to implement Transparency Directive |
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The Lower House of the Dutch Parliament recently approved a bill to implement the European Transparency Directive.
That directive aims to improve the provision of information by listed companies within the European Union.
Read on »
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Act to Prevent Money Laundering and Financing of Terrorism |
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The Act to Prevent Money Laundering and Financing of Terrorism [Wet ter voorkoming van witwassen en financieren van terrorisme, WWFT] came into force on 1 August 2008.
It replaces the Identification (Provision of Services) Act [Wet identificatie bij dienstverlening, WID] and the Disclosure of Unusual Transactions (Financial Services) Act
[Wet melding ongebruikelijke transacties, Wet MOT].
The new act means that institutions that are affected by the anti-money laundering legislation will find it easier to see what obligations they need to comply with.
Read on »
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Joint enforcement policy of Netherlands Authority for the Financial Markets and Dutch central bank |
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The Netherlands Authority for the Financial Markets (AFM) and the Dutch central bank (DNB) readopted their joint enforcement policy on 10 July 2008.
That policy incorporates a number of basic principles that these organisations will bear in mind when carrying out their supervision duties.
It also specifies certain factors that go towards deciding on whether to apply a certain enforcement measure.
Read on »
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Division of control: a question of supervision |
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Our newsletter for June 2008 dealt with the allocation of supervisory duties in the pensions sector
(i.e. internal supervision as opposed to the external role of the Netherlands Authority for the Financial Markets (AFM) and the Dutch central bank (DNB)).
We referred to an impending ruling by the Enterprise Section of the Amsterdam Court of Appeal; that ruling has now been uploaded to the Van Doorne website.
The basic perspective is what restrictions can be imposed regarding the division of powers within a body of a legal entity, specifically as regards decision-making.
This is an important consideration for every supervisory body.
After all, if the control relationships between the various stakeholders are shaky, the legal entity will be in a difficult situation almost by definition.
Read on »
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| Want to keep abreast of things? |
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We like to keep our clients updated on developments in all fields of law and the sectors that our firm covers.
That is why, besides the newsletter financial institutions, we also publish a general digital newsletter each two months.
The latter includes contributions from most of our practice and market groups.
» Read our general newsletter
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For more information, please contact nieuwsbrief_financiele_instellingen@van-doorne.com
Although this newsletter was prepared with the utmost care, it is only intended to highlight legal issues in general and does not provide for specific legal advice applicable to a specific situation. Van Doorne does not accept liability for any actions (or lack thereof) taken as a result of relying on or in any way using information contained in this newsletter and in no event shall Van Doorne be liable for any damages resulting from reliance on or use of this information. Readers should always take specific advice from a qualified professional if and when dealing with specific situations.
Van Doorne N.V., Jachthavenweg 121, 1081 KM Amsterdam
Postbus 75265, 1070 AG Amsterdam, T:+31 (0)20 6789 123, F:+31 (0)20 6789 589
   
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