Nikolai de Koning (NL)

Nikolai de Koning is a financial services lawyer (advocaat) based in Amsterdam. Nikolai is experienced in financial services and banking law, as well as in data privacy (protection). He is experienced in advising on regulatory and compliance aspects relevant to financial institutions, such as insurance companies, investment firms, clearing institutions and central counterparties. Nikolai also advises on Dutch licence and notification requirements and he assists companies in their licence or notification processes with the Dutch financial regulators. He also specialises in privacy issues arising out of online products, data protection and e-commerce.

Firm/Organization: Norton Rose Fulbright

Blogs: Data Protection Report, Financial services: Regulation tomorrow

Latest Articles

Financial services: Regulation tomorrow

AFM anticipates legislative proposal on remuneration rules for proprietary traders and continues tolerance policy in 2020

By Nikolai de Koning (NL) & Floortje Nagelkerke (NL) on September 17, 2019

The Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) currently allows certain groups of proprietary traders (persons dealing on own account) not to comply with the 20% bonus cap. In 2017, propriety traders faced a situation where they would be subject to the bonus cap with immediate effect, while they were first excluded. With its tolerance policy, the AFM wanted to prevent undesirable side effects in the face of further European rules.…

Financial services: Regulation tomorrow

Crypto operators urged to prepare for DNB supervision as of January 2020

By Nikolai de Koning (NL) on September 3, 2019

On 3 September 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) issued a press release announcing that firms that offer services for the exchange between virtual money (cryptos) and regular money, and crypto wallet providers are expected to become subject to DNB’s integrity supervision as of 10 January 2020 as a result of the Fifth Anti-Money Laundering Directive (5MLD). DNB indicates that these ‘crypto operators’ should start preparing and ideally get in touch with…

Financial services: Regulation tomorrow

Several updates from DNB on PSD2

By Nikolai de Koning (NL) & Anka Langedijk (NL) on August 29, 2019

On 28 August 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) published several updates in relation to PSD2. Exemptions from contingency mechanism: sixteen account servicing payment service providers (ASPSP) have applied with DNB for an exemption from the contingency mechanism requirement under Article 33(6) of Delegated Regulation (EU) 2018/389. DNB is currently considering these applications. ASPSPs that have not applied for the exemption, will need to have a contingency mechanism for account access in…

Financial services: Regulation tomorrow

DNB publishes Q&A on the possible qualification of subscriptions as non-life insurance

By Nikolai de Koning (NL) & Anka Langedijk (NL) on August 29, 2019

On 28 August 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) published a final Q&A which provides clarification on whether subscriptions (abonnementen) offered to consumers may be considered as a non-life insurance (schadeverzekering) product DNB indicates that subscriptions exist in various sectors in multiple variations and that the specific content and context of the subscription is decisive in determining whether it could qualify as a non-life insurance product. The Q&A discusses the two most…

Financial services: Regulation tomorrow

AFM consults investment funds on anti-money laundering and terrorist financing

By Nikolai de Koning (NL) & Anka Langedijk (NL) on August 19, 2019

On 16 August 2019, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a news item indicating that in the last week of August, alternative investment funds and their managers will be receiving a questionnaire in relation to anti-money laundering and sanctions risks. This questionnaire is circulated annually and the AFM uses the answers to it to determine the risk profiles of investment funds. These risk profiles provide the AFM with…

Financial services: Regulation tomorrow

DNB publishes general principles for the use of AI in the financial sector

By Nikolai de Koning (NL) on July 26, 2019

On 25 July 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) published a guidance document containing general principles for the use of artificial intelligence (AI) in the financial sector (the Guidance Document). The Guidance Document serves as a discussion paper containing DNB’s preliminary views on the responsible use of AI in the financial sector. DNB believe that the issues and ideas outlined in this paper will benefit from broader debate, and therefore DNB welcomes…

Financial services: Regulation tomorrow

Points of attention for AI in the insurance sector

By Nikolai de Koning (NL) on July 26, 2019

On 25 July 2019, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) and the Dutch Central Bank (De Nederlandsche Bank, DNB) published a brochure on the use of artificial intelligence (AI) in the insurance sector (the AI Brochure). The AFM and DNB foresee a rapidly increasing use of AI in the Dutch insurance sector. Both regulators believe it is important that AI is deployed in a manner that is responsible and…

Financial services: Regulation tomorrow

Public consultation on DNB’s revised guidance document on the Wwft and Dutch sanctions legislation

By Nikolai de Koning (NL) & Anka Langedijk (NL) on July 23, 2019

On 17 July 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) launched a public consultation on its revised guidance document on the Act on the prevention of money laundering and terrorist financing (Wet ter voorkoming van witwassen en financieren van terrorisme, Wwft) and the Sanctions Act 1977 (Sanctiewet 1977, SW) (the Guidance Document). The Guidance Document mainly incorporates the amendments to the Wwft as a result of the implementation of the Fourth Anti-Money Laundering…

Financial services: Regulation tomorrow

Further remuneration measurers for the financial sector published for consultation

By Nikolai de Koning (NL) & Anka Langedijk (NL) on July 9, 2019

On 5 July 2019, the Act on the further remuneration measures for the financial sector (Wet nadere beloningsmaatregelen financiële sector, the Act) was published for public consultation. The Act will, among other things, propose the following amendments to the current remuneration rules: Introduction of a statutory retention period for certain financial instruments: directors and employees of financial undertakings will be required to retain financial instruments (e.g. shares) which are part of fixed remuneration for a…

Financial services: Regulation tomorrow

Dutch Ministers publish action plan on the prevention of money laundering

By Floortje Nagelkerke (NL) & Nikolai de Koning (NL) on July 4, 2019

On 30 June 2019, the Dutch Minister of Finance and the Dutch Minister of Justice and Security published their joint action plan on the prevention of money laundering via the Dutch financial system and on localizing and prosecution of criminals and their facilitators (the Plan). Combatting anti-money laundering has had a European wide focus for some years already, resulting in the 4th and 5th Anti-Money Laundering Directives. Money laundering has also been an area of…

Nikolai de Koning (NL)

AFM anticipates legislative proposal on remuneration rules for proprietary traders and continues tolerance policy in 2020

Crypto operators urged to prepare for DNB supervision as of January 2020

Several updates from DNB on PSD2

DNB publishes Q&A on the possible qualification of subscriptions as non-life insurance

AFM consults investment funds on anti-money laundering and terrorist financing

DNB publishes general principles for the use of AI in the financial sector

Points of attention for AI in the insurance sector

Public consultation on DNB’s revised guidance document on the Wwft and Dutch sanctions legislation

Further remuneration measurers for the financial sector published for consultation

Dutch Ministers publish action plan on the prevention of money laundering

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