Financial Services

Financial Services Newsletter

Published on 3rd Mar 2020

Banking and finance

Taking security over SDE-subsidy claims

Financiers are looking to subsidies in the renewable energy sector as a source of security. Can a Dutch right of pledge be created over a sustainable energy production subsidy?

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Financial regulatory

DNB revises money laundering guidelines

On 18 December 2019, the Dutch Central Bank published revised guidelines on the Money Laundering and Terrorist Financing (Prevention) Act and the Sanctions Act. The Guidelines provide a framework for institutions (including investment firms, electronic money institutions and financial services providers) on how to comply with the Dutch Money Laundering and Terrorist Financing (Prevention) Act and the Sanctions Act.

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Dutch government delays enacting money laundering directive

On 19 December, the Dutch government announced that the act that implements the revised anti-money laundering and terrorist financing directive would not come into force on 10 January 2020. Instead, the act that implements 5AMLD has been under debate in the Dutch Senate.

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Consultation opened by Europe's banking authorities on institutional risk

On 19 December, the European Banking Authority launched a public consultation on its draft Regulatory Technical Standards that looks at the criteria for credit institutions and investment firms to identify risk takers.

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Litigation

New Dutch ruling on right of pledge on assurance portfolio

Supreme Court rules that it is impossible to create a right of pledge on assurance portfolios.

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Dutch final court sends back ruling on banks' duty of care to private investors

The Supreme Court has emphasised that the degree of expertise and relevant experience of a private investor is relevant in respect of the special duty of care of a bank in investment advisory relationships. According to established case law, a bank, as a professional and expert service provider, has a special duty of care within investment advisory relationships with private investors.

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