Key Regulatory Developments In The Netherlands (January 31, 2020)

Author:Mr Robbert Middelburg

Source/Date Brief description Netherlands Court of Audit


The Netherlands Court of Audit published a report containing its evaluation of the Dutch Central Bank's (De Nederlandsche Bank N.V., DNB) procedures for settlement of small and medium-sized banks at risk of insolvency

The report concluded that DNB made progress in developing its procedures but that not all procedures are complete yet. DNB has procedures in place for most Dutch banks but they are brief.

For further information in Dutch, click here.

Dutch Second Chamber of Parliament


The House of Representatives (Tweede Kamer) passed a legislative proposal for the so called UBO (Ultimate Beneficial Owner) register

The legislation will now proceed to the Senate (Eerste Kamer). The deadline for implementation of the UBO register is the 10th of January, 2020. Thereafter, corporations and other legal persons in the Netherlands will have 18 months to register their UBO through the website of the Dutch Chamber of Commerce (KvK).

For further information in Dutch, click here.

Dutch Authority Financial Markets (AFM),


The AFM investigates the services offered by 10 investment firms to professional investors

It concluded that there is room for improvement regarding adhering to the MiFID II requirements cost transparency, product governance and commissions. The AFM will continue to focus on MiFID II requirements in its supervision of investment firms.

For further information in Dutch, click here.

Dutch Ministry of Finance


The Ministry of Finance and the Ministry of Justice and Safety (Ministerie van Financiën en Ministerie van Justitie en Veiligheid) launched the consultation of the Anti-Money Laundering Action Plan Act (Wet plan van aanpak witwassen)

The proposed measures include roughly (i) banning cash payments from3,000 for and...

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