Dutch households are putting more and more money in bank accounts abroad, according to the latest quarterly figures from DNB and the ECB. Countries where savings rates have recently risen are particularly popular among Dutch savers.Read more
Authority to request information pursuant to the Financial Supervision Act
Published: 01 January 2007
Pursuant to section 5:16 of the General Administrative Law Act, supervisors have a general authority to request information. The section itself does not provide for limitations as to the parties from whom information may be requested: in principle, information may therefore be requested from anyone.
However, the principle of proportionality entails that the authority to request information may not be exercised vis-à-vis everyone under all circumstances. Section 5:13 of the General Administrative Law Act provides that the supervisor shall use this authority only insofar as it is necessary, in reason, for the fulfilment of his task.
Obligation to cooperate
To enable supervisors to exercise their authority to request information, section 5:20 of the General Administrative Law Act provides for an obligation to cooperate. Within a reasonable term set by the supervisor, everyone is obliged to cooperate fully with the supervisor who can, in reason, request such cooperation. The obligation to cooperate applies only in connection with the implementation of the (statutory) authority to exercise supervision.
Who may request information?
Under the General Administrative Law Act, a supervisor may request information. Where DNB is concerned, such supervisors are the persons designated in the Decree on Designated Supervisors DNB (Besluit aangewezen toezichthouders DNB).
As governing body, DNB is also permitted to request information under section 1:74 of the Wft.
Dutch institutional investors such as pension funds, investment funds and insurers kept their investments in risky bonds roughly the same over the past 12 months. This is a break from previous years: since 2019, large investors had expanded their exposure to what are termed high-yield bonds.Read more
Supervisory authority De Nederlandsche Bank (DNB) is submitting a new anti-money laundering approach to financial institutions and other stakeholders as part of a public consultation. In a policy document presented today [...]Read more