Amendments Dutch Financial Regulatory Law 2015
On 19 December 2014, the final version of the Financial Amendment Decree 2015 (the ''Amendment Decree 2015'') was published. The final Financial Markets Amendment Act 2015 (the "Amendment Act 2015") was published a little earlier, on 5 December 2014.
The Amendment Act 2015 and the Amendment Decree 2015 contain, amongst others, new rules regarding:
· An extension of the scope of the suitability and integrity requirements;
· An extension of the scope of the bankers' oath;
· Close-out netting and the Intervention Act
· The concentration of court cases in first instance with respect to investment services, investment activities or offering of securities to the public at the District Court of Amsterdam;
· The tightening of the regime for group finance companies;
· A legal framework for covered bonds; and
· Amendments in connection with the implementation of Solvency II.
Act on the Remuneration of Financial Undertakings
Due to a second written round of questions from the Upper House (Eerste Kamer) of Parliament, the entry into force of the Act on the Remuneration of Financial Undertakings is delayed. The act will not, as previously envisaged, enter into force on 1 January 2015. It is not yet known when the act will now enter into force.
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