Compliance Corner

News
Date 30 August 2012

The regular feature 'Compliance Corner' focuses on a specific compliance item. This time it’s: Submitting a list of qualifying holdings to DNB.

Each year, financial enterprises are legally required to provide the Dutch central bank with a list of all qualifying holdings, together with any changes that may have taken place since the previous submission.
 
A qualifying holding is essentially a direct or indirect stake of 10% or more in the control or capital of a financial enterprise. All legal or natural persons whom you know to have a direct or indirect stake of this kind must be included on the list. 
 

What DNB expects of you...

Groep mensen

The list must be sent to DNB by no later than July, each year. Banks that have not yet sent their list for this year can still comply by forwarding it to their supervisor at DNB via email. 

What's the legal basis for this requirements

The list must be sent to DNB by no later than July, each year. Banks that have not yet sent their list for this year can still comply by forwarding it to their supervisor at DNB via email:
 
'(…) A financial enterprise (…) shall inform the Dutch Central Bank in July of each year of the identity of every person owning a qualifying holding in this financial enterprise, insofar as it is aware of this identity. Furthermore, the financial enterprise shall inform the Dutch Central Bank, as soon as it becomes aware of this, of every acquisition of, disposal of or change in a qualifying holding in this financial enterprise:
a. as a result of which the size of this holding increases beyond 20, 33 or 50, or as a result of which the financial enterprise concerned becomes a subsidiary; or
b. as a result of which the size of this holding falls below 10, 20, 33 or 50, or as a result of which the financial enterprise concerned ceases to be a subsidiary.(…)'