Floortje Nagelkerke (NL)

Firm/Organization: Norton Rose Fulbright, Reed Smith LLP

Blogs: Data Protection Report, Employment Law Watch, Financial services: Regulation tomorrow, Taxing Tech

Latest Articles

Consultation on amending the Suitability Policy Rule 2012

By Floortje Nagelkerke (NL) & Anka Langedijk (NL) on June 18, 2019

On 14 June 2019, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, AFM) and the Dutch Central Bank (De Nederlandsche Bank, DNB) published the draft Decree amending the Suitability Policy Rule 2012 (Besluit tot wijziging van de Beleidsregel Geschiktheid 2012, the Decree) for public consultation. The Suitability Policy Rule provides for more detailed information on the assessment of the suitability (geschiktheid) of policymakers (beleidsbepalers) of financial institutions. More particularly, it lays down the…

Financial services: Regulation tomorrow

Financial Supervision Funding Regulation 2019 published in Dutch Government Gazette

By Floortje Nagelkerke (NL) & Anka Langedijk (NL) on June 14, 2019

On 12 June 2019, the Financial Supervision Funding Regulation 2019 (Regeling bekostiging financieel toezicht 2019, the Regulation) was published in the Dutch Government Gazette (Staatscourant). The Regulation is based on the Financial Supervision Funding Act (Wet bekostiging financieel toezicht) and the Financial Supervision Funding Decree 2019 (Besluit bekostiging financieel toezicht 2019) and sets out the bandwidths and tariffs for ongoing supervisory costs levied by the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, AFM)…

Financial services: Regulation tomorrow

FCA and Dutch regulator announce closer partnership

By Simon Lovegrove (UK) & Floortje Nagelkerke (NL) on June 6, 2019

On 5 June 2019, the FCA announced that it has signed an agreement with the Dutch Authority for the Financial Markets (AFM) to work more closely together to protect and enhance the integrity and stability of both countries financial systems. Since the UK announced its intention to withdraw from the EU, several financial institutions currently operating in the UK and the Netherlands have applied for a licence to operate in the respective jurisdictions. Close cooperation and…

Financial services: Regulation tomorrow

Consultation on extending notification threshold for substantial shareholdings and short positions in listed companies

By Floortje Nagelkerke (NL) & Anka Langedijk (NL) on May 28, 2019

On 23 May 2019, the Act extending notification obligations for shareholders (Wet uitbreiding meldplichten aandeelhouders, the Act) was published for consultation. Chapter 5.3 of the Act on the Financial Supervision (Wet op het financieel toezicht, AFS) will be amended. The Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, AFM) maintains a register for substantial shareholdings and short positions in listed companies. Currently, shareholdings and short positions that are equal to or exceed the lowest…

Financial services: Regulation tomorrow

Consultation on Implementation Decree UBO Register

By Floortje Nagelkerke (NL) on May 21, 2019

On 20 May 2019, the Dutch Minister of Finance (the Minister) published the Decree implementing the registration of ultimate beneficial owners of companies and other legal entities (Implementatiebesluit registratie uiteindelijk belanghebbenden van vennootschappen en andere juridische entiteiten, the Implementation Decree) for public consultation. The Implementation Decree contains further detail on the ultimate beneficial owner register (the UBO Register) which will need to be in place by January 2020 (view our earlier blog on the UBO…

Financial services: Regulation tomorrow

PSD2 update from the Dutch Central Bank

By Floortje Nagelkerke (NL) on March 2, 2019

On 28 February 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) published a PSD2 update on its website. In its PSD2 update, DNB points out that: the revised Payment Services Directive (PSD2) entered into force in the Netherlands on 19 February 2019 and market operators are able to apply for a PSD2 licence with DNB. This means that the various guidelines and regulatory technical standards issued by the European Banking Authority in relation to…

Financial services: Regulation tomorrow

Dutch Minister proposes transitional regime for investment firms from the UK in case of a no-deal Brexit

By Floortje Nagelkerke (NL) & Anka Langedijk (NL) on February 5, 2019

On 4 February 2019, the Dutch Minister of Finance (the Minister) proposed an amendment to the Exemption Regulation AFS (Vrijstellingsregeling Wft, the Regulation), stipulating that Article 10 of the Regulation (also known as: the third-country regime) will temporarily apply to investment firms from the UK if the UK and the EU have not entered into an agreement on the exit of the UK from the EU by 29 March 2019. The exemption of Article 10 of the Regulation means…

Financial services: Regulation tomorrow

Dutch Brexit Act submitted to Parliament

By Floortje Nagelkerke (NL) & Nikolai de Koning (NL) on November 30, 2018

On 16 November 2018, the Dutch Minister of Justice and Security (Minister van Justitie en Veiligheid, the Minister) submitted a legislative proposal to the Dutch Parliament proposing changes to a number of laws and regulations in the Netherlands in preparation for Brexit (the Dutch Brexit Act). The explanatory notes to the Dutch Brexit Act provide that the proposal is a product of an inventory that was carried out to see whether Dutch laws needed to…

Financial services: Regulation tomorrow

Minister of Finance addresses commitments with respect to financial markets

By Floortje Nagelkerke (NL) on November 6, 2018

On 2 November 2018, the Dutch Minister of Finance (the Minister) sent a letter to the Dutch Parliament which addresses topics which the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, AFM) and the Dutch Central Bank (De Nederlandsche Bank, DNB) had requested the Minister to implement. Amongst other things, the following topics are addressed, to: investigate the introduction of a requirement for a declaration of no-objection (verklaring van geen bezwaar) for dividend distributions…

Financial services: Regulation tomorrow

AFM publishes report on financial sectors trend for 2019 – key topics include Brexit, digitalisation and sustainable economy

By Nikolai de Koning (NL) & Floortje Nagelkerke (NL) on October 31, 2018

On 29 October 2018, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, AFM) published a report setting out the most important trends and risks in the financial sector (the Report). The primary purpose of the Report is to provide substantive background, depth and coherence in relation to relevant supervisory issues. In the Report, the AFM focuses on three particular trends: Political uncertainty: According to the AFM, Brexit is the largest source of political…

Floortje Nagelkerke (NL)

Consultation on amending the Suitability Policy Rule 2012

Financial Supervision Funding Regulation 2019 published in Dutch Government Gazette

FCA and Dutch regulator announce closer partnership

Consultation on extending notification threshold for substantial shareholdings and short positions in listed companies

Consultation on Implementation Decree UBO Register

PSD2 update from the Dutch Central Bank

Dutch Minister proposes transitional regime for investment firms from the UK in case of a no-deal Brexit

Dutch Brexit Act submitted to Parliament

Minister of Finance addresses commitments with respect to financial markets

AFM publishes report on financial sectors trend for 2019 – key topics include Brexit, digitalisation and sustainable economy

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