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?
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.
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.
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.
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.
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.
