FSI Regulatory Legal

We are able to advise you on any matters in relation to:

• European financial supervision law, including EU directives and regulations, such as CRD/CRR, PSD/PSR, AIFMD, MiFID/MiFIR, Solvency II, AMLD, DORA, SFDR/CSRD (and sustainable finance regulation more broadly), MiCAR, the Crowdfunding Regulation and the Consumer Credit Directive.
• Dutch financial supervision law, including the Dutch implementation of European financial supervision law in the Dutch Financial Supervision Act and underlying decrees.
• Regulatory guidelines, including guidance and standards published by EIOPA, EBA, ESMA, the Dutch Central Bank (de Nederlandsche Bank, DNB) and the Authority for the Financial Markets (de Autoriteit Financiële Markten, AFM).
• Self-binding industry standards, such as those of the Dutch Association of Insurers (Verbond van Verzekeraars) and the Dutch association of Banks (Nederlandse Vereniging van Banken).
• Regulatory changes and updates in relation to any of the above.

Drawing on our extensive expertise and experience, we are well-equipped to assist you in addressing thematic investigations initiated by DNB or AFM, as well as handling specific regulatory 'take action' or information provision requests made to financial institutions.

Furthermore, we have a proven track record of effectively supporting financial institutions in the meticulous implementation of new and existing legislation by managing complex, often cross-border, regulatory transformation projects. We work closely with your organisation, and by attentively listening to your requirements, conducting in-depth interviews, workshops, and legal research we formulate a comprehensive plan of action. This collaborative, embedded approach ensures the seamless integration of the required legislative changes within your organisation through an iterative co-creation effort focused on capacity building and engagement. 

Sound policies and practices are top of mind for shareholders, regulators and financial institution stakeholders. Conducting a comprehensive external compliance review of specific policies (such as remuneration policies) against both financial supervision legislation and market benchmarks is a pivotal step. This review serves to offer further comfort to your supervisory board, second line functions, and other stakeholders during their evaluation process, while also pinpointing opportunities for potential enhancement. Furthermore, we offer the option to provide comprehensive training to your organisation, fostering a deep understanding of policies and practices, and actively supporting their implementation to ensure that these policies are effectively put into action at every level.

With our hands-on and business-minded approach, we are well-positioned to support your organisation on the regulated aspects of any transaction or with market entry requirements. We have tested frameworks to support feasibility studies, license applications, and applications for declarations of no objection (verklaringen van geen bezwaar, DNO). We support the A-to-Z authorisation process with the Dutch Central Bank (de Nederlandsche Bank, DNB) and the Authority for the Financial Markets (de Autoriteit Financiële Markten, AFM), including through review of suitability matrices, policy house creation and updates, completion of application forms, business plan reviews, and compliance function establishment (first, second, third line of defense).

Good corporate governance is the cornerstone of sound decision-making in the financial services industry. However, implementing and maintaining a robust corporate governance framework is a complex undertaking, given the multitude of regulations, guidelines and best practices that must be navigated. Our team of seasoned professionals is ready to assist you in transforming your corporate governance practices and board room dynamics to align with regulatory requirements, as well as the expectations of supervisory authorities and other stakeholders, your authorisations, and corporate actions.

We possess a deep understanding of the duties and responsibilities incumbent upon board members under financial supervision laws, and we have access to valuable benchmarks for a wide variety of financial market participants. We regularly deliver training programs tailored to the particular needs of financial institutions’ boards, as well as those of individual board members. We also develop tailored training initiatives designed to prepare (prospective) executive board or supervisory board members for assessments by supervisory authorities such as the AFM or DNB.

Additionally, we offer comprehensive training on complex regulatory topics and new legislation, such as sustainable finance (SFDR, CSRD, and EU Taxonomy) and DORA, while incorporating organisational nuances, areas of interest highlighted by regulators, and addressing any specific requests you may have.