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

Act implementing CRD V and CRR II published for consultation

By Nikolai de Koning (NL)

February 13, 2020

On 12 February 2020, the draft Act implementing capital requirements 2020 (Implementatiewet kapitaalvereisten 2020, the Draft Act) was published for public consultation. The Draft Act contains changes to the Act on the Financial Supervision (Wet op het financieel toezicht) which are necessary to implement: Directive (EU) 2019/878 of the European Parliament and of the Council of 20 May 2019 amending the Capital Requirements Directive IV as regards exempted entities, financial holding companies, mixed financial…

Financial services: Regulation tomorrow

DNB publishes updated guidance document on Wwft and Sanctions Act 1977

By Nikolai de Koning (NL)

February 4, 2020

The Dutch Central Bank (De Nederlandsche Bank, DNB) published an updated guidance document on the Act on the prevention of money laundering and terrorist financing (Wet ter voorkoming van witwassen en financieren van terrorisme) and the Sanctions Act 1977 (Sanctiewet 1977). The previous version of the guidance document (which was published in April 2015) no longer applies. The guidance document mainly incorporates the amendments that have been made to the Wwft as a result of…

Financial services: Regulation tomorrow

DNB’s supervision to focus on data and digitization

By Nikolai de Koning (NL)

January 22, 2020

On 22 January 2020, the Dutch Central Bank (De Nederlandsche Bank, DNB) issued a press release stating that it will be adopting a more data-driven approach and focus on the use of digital technologies in its supervision. DNB has also published its Supervision Outlook 2020. DNB indicates that in 2020 it will strengthen its cooperation with the sector to build on knowledge of the impact and opportunities of technological innovations by way of the Innovation…

Financial services: Regulation tomorrow

DNB and the AFM publish enforcement policy for public consultation

By Nikolai de Koning (NL)

January 21, 2020

On 20 January 2020, the Dutch Central Bank (De Nederlandsche Bank, DNB) and the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a draft enforcement policy for public consultation. DNB and the AFM have the task of supervising compliance with financial laws and regulations in the Netherlands. In order to effectively do so, DNB and the AFM have been allocated legal powers and various enforcement instruments. The draft enforcement policy sets…

Financial services: Regulation tomorrow

AFM agenda and strategy document for 2020-2022 published

By Nikolai de Koning (NL)

January 17, 2020

On 16 January 2020, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published its agenda for 2020 (the 2020 Agenda) and a strategy document outlining the AFM’s focus areas for the coming years (the 2020-2022 Strategy Document). In the 2020 Agenda the AFM states that the five most important trends for its supervision are digitalisation, macroeconomic developments, changes in European and other regulation, geopolitical developments and the transition to a sustainable…

Financial services: Regulation tomorrow

Amended Suitability Policy Rule 2012 entered into effect

By Nikolai de Koning (NL)

January 17, 2020

On 14 January 2020, the Decree amending the Suitability Policy Rule 2012 (Besluit tot wijziging van de Beleidsregel Geschiktheid 2012, the Decree) was published in the Bulletin of Acts and Decrees (Staatscourant). Since its consultation in June 2019, some minor changes have been made to the Decree, including but not limited to the incorporation of additional guidance on sufficient time commitment and diversity of the collective of policymakers criteria. The Decree entered into effect as…

Financial services: Regulation tomorrow

DNB roundtable on sustainability of the financial sector

By Nikolai de Koning (NL)

December 19, 2019

On 17 December 2019, the Dutch Central Bank (De Nederlandsche Bank, DNB) organised a roundtable session on the sustainability of the financial sector with the standing committee on finance (vaste commissie voor Financiën). A day earlier, DNB published a position paper in preparation for the roundtable session which summarises the results of various DNB reports in recent years on climate and sustainability risks and describes how this knowledge has been integrated in DNB’s supervisory approach.…

Financial services: Regulation tomorrow

AFM publishes Principles for Information Security

By Nikolai de Koning (NL)

December 19, 2019

On 19 December 2019, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published on its website Principles for Information Security (the Principles). The Principles were submitted for consultation earlier this year and have now become final. The AFM indicates that the management of information security risks is becoming increasingly important as a result of the increasing digitalisation of society. The AFM expects financial undertakings to take appropriate measures to guarantee the…

Financial services: Regulation tomorrow

AFM sees room for improvement for investment firms’ compliance with MiFID II

By Nikolai de Koning (NL)

December 10, 2019

On 10 December 2019, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) issued a press release in which it concludes that the investment firms which were part of the AFM’s investigation in 2018 and 2019 need to make improvements in the field of costs transparency, product governance and commissions (provisies). A total of ten investment firms were included in the AFM’s investigation. The investigation report attached to the press release (which…

Financial services: Regulation tomorrow

AFM reminds investment firms and investment funds of the need to manage outsourcing risks

By Nikolai de Koning (NL)

December 2, 2019

On 29 November 2019, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a sector letter for investment firms and investment funds to inform them of the most important signals that followed from the AFM’s investigation into outsourcing. As part of its investigation, which took place between October 2018 and May 2019, the AFM asked nearly 300 investment firms, managers of alternative investment funds and managers of UCITS to complete a…

Nikolai de Koning (NL)

Act implementing CRD V and CRR II published for consultation

DNB publishes updated guidance document on Wwft and Sanctions Act 1977

DNB’s supervision to focus on data and digitization

DNB and the AFM publish enforcement policy for public consultation

AFM agenda and strategy document for 2020-2022 published

Amended Suitability Policy Rule 2012 entered into effect

DNB roundtable on sustainability of the financial sector

AFM publishes Principles for Information Security

AFM sees room for improvement for investment firms’ compliance with MiFID II

AFM reminds investment firms and investment funds of the need to manage outsourcing risks

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