On 14 January 2020, the Decision of the De Nederlandsche Bank NV (DNB) and the Netherlands Authority for the Financial Markets (AFM) of 12 December 2019 to amend the Suitability Policy Rule of 2012 was published in the Government Gazette of the Kingdom of the Netherlands.
31 Jan 2020
The amendment is a result of changes in European and national laws and regulations as well as the entry into force of European guidelines. The amended Policy Rule has come into effect on 15 January 2020.
The Policy Rule clarifies what the regulator means by 'suitability' and which aspects are taken into account when assessing a policymaker. The Policy Rule also provides clarity about when policymakers should or could be tested and what information and antecedents the regulator takes into account.
The amendment to the Policy Rule does not concern a complete revision and does not change the existing assessment policy of DNB and AFM. However, it provides for the application by DNB and AFM in their supervision of the ESMA Guidelines on the management body of market operators and providers of data reporting services and the EBA/ESMA Guidelines for assessing the suitability of members of the management body and employees with a key position.
This article was originally published in the January edition of REGWATCH. Read the full edition covering the following jurisdictions:
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