Netherlands

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Dutch Court Overturns $50 Billion Yukos Award Against Russia

In a victory for Moscow, a Dutch court on Wednesday overturned an order that Russia pay $50 billion to shareholders in defunct oil company Yukos, saying that the Hague-based Permanent Court of Arbitration had no jurisdiction, the Irish Times reported ...

Daily Headline - global.abi.org - 04/20/2016 - 22:00 - 0 comments

UBOs beware: Dutch UBO register to be accessible to public/ Bent u een UBO? Dan worden uw gegevens openbaar

Companies and a wide range of other entities will have to disclose information about their ultimate beneficial owners (UBOs) in a public central register. This UBO register, mandated by the (fourth) EU anti-money laundering directive and intended to prev ...

Resource Article - twallace@abiwor... - 04/06/2016 - 16:33 - 0 comments - 0 attachments

New rules for securities financing transactions/Nieuwe regels voor effectenfinancieringstransacties

On 12 January 2016 Regulation (EU) 2015/2365 of the European Parliament and of the Council of 25 November 2015 on transparency of securities financing transactions and of reuse (the "Regulation") entered into force. Many of the obligations set ...

Resource Article - twallace@abiwor... - 04/06/2016 - 16:21 - 0 comments - 0 attachments

Rabobank Earnings Rise On Sharp Fall In Loan Provisions

Rabobank, the Dutch co-operative banking group which operates in Ireland, reported a 20 per cent rise in 2015 net profit on Thursday to €2.21 billion in a rebounding Dutch economy, the Irish Times reported. The dominating factor was a fall in loan pr ...

Daily Headline - global.abi.org - 02/18/2016 - 18:55 - 0 comments

ECJ issued landmark case on real estate investment funds

On 9 December 2015 the European Court of Justice ("ECJ") decided in the Dutch case Fiscale Eenheid X NV (C-595/13) that funds investing directly in real state can qualify as "special investment fund" for the purposes of the VAT exempt ...

Resource Article - twallace@abiwor... - 01/29/2016 - 14:34 - 0 comments - 0 attachments

Breach notification duty | Meldplicht datalekken

Dutch data protection authority publishes Policy Rules on breach notification duty As of 1 January 2016 companies, public bodies and other organisations that process personal data have an obligation to immediately report personal data breaches to the D ...

Resource Article - twallace@abiwor... - 01/29/2016 - 14:24 - 0 comments - 0 attachments

Mandatory bail-in clause in agreements of banks and investment firms/Verplichte afwikkelbaarheidsclausule in overeenkomsten van banken en beleggingsondernemingen

Legislation implementing the EU Bank Recovery and Resolution Directive ("BRRD") in Netherlands law and facilitating the application of the EU Single Resolution Mechanism Regulation ("SRM Regulation") was approved by the Upper Chamber ...

Resource Article - twallace@abiwor... - 01/29/2016 - 13:09 - 0 comments - 0 attachments

Accounting Directive Implementation Act per 1 November 2015/Inwerkingtreding Uitvoeringswet Richtlijn Jaarrekening per 1 november 2015

On 1 November 2015 the Accounting Directive Implementation Act entered into effect. This legislation implements Directive 2013/34/EU in Dutch law. The most important changes under this Act are higher thresholds for determining the "size" of leg ...

Resource Article - twallace@abiwor... - 01/29/2016 - 11:50 - 0 comments - 0 attachments

PGGM To Agree €2.3 Billion Synthetic Securitisation Deal With Santander

PGGM, one of the largest Dutch pension fund managers, will on Monday complete a €2.3bn trade to insure loans of Santander, the Spanish bank, in a deal that highlights the growing appeal of exotic financial instruments in a world of ultra-low interest rat ...

Daily Headline - global.abi.org - 01/10/2016 - 21:35 - 0 comments

Dutch Retail Chain V&D Declared Bankrupt

Vroom & Dreesman, the largest Dutch department store chain, has been declared bankrupt, it said in a statement published on its website on Thursday. V&D, with 10,000 workers at 67 stores, has suffered in recent years as the Dutch economy stagnate ...

Daily Headline - global.abi.org - 01/03/2016 - 22:55 - 0 comments

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