On 22 June 2020, De Nederlandsche Bank (DNB) Working method for viewing and copying digital data was published in the Official Journal.
16 Jul 2020
The supervisors appointed the DNB to supervise the compliance of the rules laid down in and pursuant to the Financial Supervision Act (Wet op het financieel toezicht (Wft)).
To this end, pursuant to the General Administrative Law Act (Algemene wet bestuursrecht (Awb)) these supervisors have the power to demand inspection of business information and documents and to make copies thereof (Article 5:17 of the Awb).
They are also authorised to demand information (Article 5:16 of the Awb). The company under investigation is obliged to provide all cooperation that can reasonably be demanded in the exercise of these powers (Article 5:20 Awb). Persons who may invoke a right to refuse to give evidence, such as lawyers, may refuse to cooperate (Section 5:20(2) of the Awb).
Furthermore, the principle of proportionality requires that a supervisor only makes use of his powers to the extent reasonably necessary for the performance of his duties (Article 5:13 of the Awb). This Working Method outlines how DNB's supervisors will act when exercising the powers referred to above in so far as DNB requires digital data in doing so.
The Working Method applies mutatis mutandis to the claiming of digital data pursuant to Section 5:16 of the General Administrative Law Act (Awb), in situations other than during an on-site investigation. The Working Method describes the procedure to be followed from the moment that the digital data have been selected by the supervisory authorities which, by virtue of their nature and/or content, may reasonably fall within the scope of the purpose and subject of the investigation in question.
This article was originally published in the June edition of REGWATCH. Read the full edition covering the following jurisdictions:
- European Union
- Hong Kong
- United Kingdom