May a Dutch collective investment undertaking (UCITS) invest assets under management in deposits with a UK-domiciled bank?
Yes, DNB has determined, for the purposes of Section 130(f) of the Decree on Business Conduct Supervision of Financial Enterprises (Besluit gedragstoezicht financiële ondernemingen – Bgfo), that prudential supervision in the United Kingdom provides adequate safeguards with respect to the interests that the law is designed to protect.
At the end of 2021, DNB decided that this assessment would in principle be valid for an indefinite period, but that it would be reviewed by the end of 2023 at the latest. This review has taken place and, for the time being, does not warrant a revision of our opinion. However, we will continue to monitor relevant changes or developments in prudential supervision in the United Kingdom. We will announce any change in our opinion in good time.
May a Dutch collective investment undertaking (UCITS) have a counterparty risk of up to 10% of its assets in an OTC derivatives transaction if the counterparty is a UK-domiciled bank?
Yes, DNB has determined, for the purposes of Section 130(f) of the Decree on Business Conduct Supervision of Financial Enterprises (Besluit gedragstoezicht financiële ondernemingen – Bgfo), that prudential supervision in the United Kingdom provides adequate safeguards with respect to the interests that the law is designed to protect.
At the end of 2021, DNB decided that this assessment would in principle be valid for an indefinite period, but that it would be reviewed by the end of 2023 at the latest. This review has taken place and, for the time being, does not warrant a revision of our opinion. However, we will continue to monitor relevant changes or developments in prudential supervision in the United Kingdom. We will announce any change in our opinion in good time.
Starting January 9, 2025, DNB will request information on potential conflicts of interest through the fit and proper assessments application form.
Read more Fit and Proper Assessments: additional questions on potential conflicts of interest
The rapid development of artificial intelligence (AI) poses challenges for the supervisory work of the AFM and DNB. The supervisory authorities have published a report with criteria and areas of attention for shaping the supervision of AI.
Read more AFM and DNB publish report on the impact of AI on the financial sector and supervision
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 DNB submits new anti-money laundering approach to financial sector
Did you know that you can track the status of your assessment application in My DNB? As of 11 May 2023 you can see the status of your assessment application in My DNB – Supervisory Applications Service.
Read more New: status of your assessment application with DNB
