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

Amendment Decree Financial Markets 2019 submitted to Dutch Parliament and Dutch Senate

By Nikolai de Koning (NL) & Anka Langedijk (NL) on June 11, 2019

On 7 June 2019, the Dutch Minister sent the Amendment Decree Financial Markets 2019 (Wijzigingsbesluit financiële markten 2019, the Amendment Decree) to the Dutch Parliament (Tweede Kamer) and the Dutch Senate (Eerste Kamer). Among other things, the Amendment Decree will amend the Decree on Conduct of Business Supervision of Financial Undertakings (Besluit Gedragstoezicht financiële ondernemingen Wft) and the Decree on Market Access of Financial Undertakings (Besluit Markttoegang financiële ondernemingen Wft). The Amendment Decree is part…

Financial services: Regulation tomorrow

AFM and SFC sign MoU on Netherlands-Hong Kong Mutual Recognition of Funds

By Nikolai de Koning (NL) on May 15, 2019

On 15 May 2019, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) and the Securities and Futures Commission of Hong Kong (the SFC) entered into a Memorandum of Understanding on Mutual Recognition of Funds (the MoU). The MoU will allow eligible Dutch Undertakings for Collective Investment in Transferable Securities (UCITS) and Hong Kong Collective Investment Schemes (CIS) to be distributed in each other’s market through a streamlined process. The MoU establishes…

Financial services: Regulation tomorrow

AFM invites companies to respond to the Principles for Information Security

By Nikolai de Koning (NL) on May 15, 2019

The Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) has invited market parties to respond to its consultation on the ‘Principles for Information Security’. This policy statement (beleidsuiting) describes the expectations of the AFM with regard to information security as part of the controlled and sound operations of financial institutions and accounting firms. The AFM indicates that it expects financial institutions and accounting firms to put sufficient safeguards in place when it…

Financial services: Regulation tomorrow

DNB’s application of Joint Guidelines to DNO applications

By Nikolai de Koning (NL) on May 1, 2019

The European Supervisory Authorities Joint Guidelines on the prudential assessment of acquisitions and increases of qualifying holdings in the banking, insurance and securities sectors (the Joint Guidelines) will be changing the way in which the Dutch Central Bank (De Nederlandsche Bank, DNB) handles applications for a declaration of no objection (verklaring van geen bezwaar, DNO). On 30 April 2019, DNB announced that changes will be taking place with regard to: The assessment of the reputation of…

Financial services: Regulation tomorrow

DNB supervises compliance with the revised Wwft

By Nikolai de Koning (NL) on May 1, 2019

In its press release of 30 April 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) emphasises that financial institutions are required to take measures to identify and assess money laundering and terrorist financing risks in accordance with the recently revised Act on the prevention of money laundering and terrorist financing (Wet ter voorkoming van witwassen en financieren van terrorisme, Wwft). DNB is actively monitoring financial institutions to ensure that they comply with their obligations…

Financial services: Regulation tomorrow

Letter AFM and DNB on importance of transitioning to alternative benchmarks

By Nikolai de Koning (NL) on April 25, 2019

On 25 April 2019, a press release and letter were published through which the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) and the Dutch Central Bank (De Nederlandsche Bank, DNB) asks financial institutions for the preparations and actions they are taking to manage transition from critical benchmarks such as LIBOR to alternative, risk-free benchmarks by 2022. The joint letter from the AFM and DNB (the Letter) is addressed to the chairs…

Financial services: Regulation tomorrow

AFM takes national measures to prohibit binary options and to restrict the marketing or sales of CFDs

By Nikolai de Koning (NL) on April 19, 2019

Further to our earlier blog post, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) has taken national measures mirroring ESMA’s product intervention measures. These measures – included in two separate Decrees, one dealing with binary options and the other with contracts for differences (CFDs) – were published in the Dutch Government Gazette on 17 April 2019 and are effective as of 19 April 2019. The national product intervention measures prohibit binary…

Financial services: Regulation tomorrow

Dutch UBO register to come into force in January 2020

By Nikolai de Koning (NL) on April 5, 2019

On 4 April 2019, the Dutch Minister of Finance (the Minister) submitted a legislative proposal for the introduction of an ultimate beneficial owner register (the UBO Register) in the Netherlands (the Proposal) to the Dutch Parliament. The Minister also, among other things, submitted the explanatory notes to the Proposal, as well as the advice from the Dutch Council of State (Raad van State) and the Dutch Data Protection Authority (Autoriteit Persoonsgegevens, the AP). The UBO…

Financial services: Regulation tomorrow

DNB conducts research into non-financial risks for insurers

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

On 26 March 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) announced that it will conduct a sector-wide research into non-financial risks that are important for controlled and ethical business operations of insurers. For this purpose, DNB will make an inquiry with insurers to gain insight into a number of non-financial risks in the last week of April 2019. The request will concern the insurer’s business model and strategy, behaviour, culture and governance, IT…

Financial services: Regulation tomorrow

DNB continues to focus on Insurtech

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

On 26 March 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) announced that in 2019 it will conduct follow-up research to come up with a supervisory approach that aligns with the possibilities and risks of ‘Insurtech’ (technological innovation in the insurance sector). In its press release, DNB notes that it follows from interviews that insurers have further substantiated their strategy with regard to technological developments and have deployed their implementation via digitization and data…

Nikolai de Koning (NL)

Amendment Decree Financial Markets 2019 submitted to Dutch Parliament and Dutch Senate

AFM and SFC sign MoU on Netherlands-Hong Kong Mutual Recognition of Funds

AFM invites companies to respond to the Principles for Information Security

DNB’s application of Joint Guidelines to DNO applications

DNB supervises compliance with the revised Wwft

Letter AFM and DNB on importance of transitioning to alternative benchmarks

AFM takes national measures to prohibit binary options and to restrict the marketing or sales of CFDs

Dutch UBO register to come into force in January 2020

DNB conducts research into non-financial risks for insurers

DNB continues to focus on Insurtech

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