Regulatory Disputes (Financial Supervision)

When it comes to the application of financial supervision law, Booij Legal & Tax offers the following services:

Legal assistance

In the event of disputes with a supervisory authority – the DNB (the Dutch central bank), the AFM (the Netherlands Authority for the Financial Markets) or the ACM (the Netherlands Authority for Consumers and Markets) – we provide financial companies and trust offices/business service providers with legal assistance. This covers the entire spectrum of advice and the extrajudicial resolution of the dispute, up to and including negotiation and/or litigation.

Sanctions law

Booij Legal & Tax has a great deal of experience with the law on financial penalties and are often brought in for formal-legal matters, such as:

  • The actual or planned imposition of a formal measure
  • An instruction
  • A judicially imposed penalty 
  • A fine/penalty
  • The revocation of a permit

Approval process of directors and supervisory board members

As one of their statutory duties, the DNB and the AFM evaluate whether current and prospective directors and supervisory board members are fit and proper for their function/position and whether their trustworthiness is established beyond doubt.

This supervisory activity focuses on sound, ethical financial institutions that fulfil their obligations. The evaluation process has an important role to play in this regard. This is because directors and supervisory board members play an essential role in strategy and corporate culture and thus in the soundness and future viability of an institution. A good-quality board, together with adequate internal supervision, helps to create sound and responsible business operations and promotes the stability and integrity of the financial sector and boosts consumer confidence. Booij Legal & Tax helps directors and supervisory board members to prepare for their approval.

Approval process by the DNB

A candidate is evaluated by the DNB (the Dutch central bank) if the employment position or function is at a bank, insurer, financial holding company, insurance holding company, mixed financial holding company, central clearing counterparty, premium pension institution, payment institution, clearing institution, clearing and settlement institution, electronic funds institution, entity for risk acceptance, credit union, exemption holder under the WFT (the Financial Supervision Act), exchange institution, pension fund, occupational pension fund, general pension fund or trust office/business service provider.

Approval process by the AFM

A candidate is evaluated by the AFM (the Netherlands Authority for the Financial Markets) if the employment position or function is at an investment firm, administrator of an investment institution, investment company, company for collective investment in securities, custodian, custodian of a UCITS, administrator of a UCITS, financial services provider, pension custodian, market operator, central securities depositary, accounting firm or audit entity of a third country.

Training of directors and managers

Booij Legal & Tax offers courses and training programmes on such subjects as Supervision by supervisory authority, The liability of directors and supervisory board members, and Risk analysis. The target group is that of directors and managers in business and industry. See also under the section The BLTM Academy.

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