In exercising prudential supervision, we use the reports submitted by supervised institutions. These reports are accompanied by statements from the external auditor and the actuary, who generally have detailed knowledge of the supervised institution. As part of their background, they have knowledge about and experience with forming an opinion of the supervised institution. Accordingly, their expertise and reliability are of great importance to us.
If an external auditor or actuary cannot or no longer provide the necessary guarantees that they will be able to properly perform their task with regard to the pension fund or financial institution, we may decide that the external auditor or actuary in question is no longer competent to issue the statements referred to in the Pensions Act and the Financial Supervision Act with regard to the supervised institution, for example because of the increasing size and complexity of the institution. In that case, we may impose a prohibition on the external auditor or actuary to issue such a statement regarding the supervised institution. A declaration of incompetence always applies to an individual external auditor or actuary and not to partnerships of external auditors or actuaries.
Liability-Driven Investment funds (LDI funds) mainly invest in long-term government bonds and long-term interest rate derivatives. The use of these interest rate derivatives exposes LDI funds to liquidity risks in case of large interest rate fluctuations.
Read more Limited liquidity risks in Euro LDI funds
This week, the European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have published their final reports on greenwashing in the financial sector.
Read more European Supervisory Authorities publish reports on greenwashing in the financial sector
In the first quarter of 2021, Dutch pension funds saw their financial position improve again. Due to rising interest rates in financial markets, the value of aggregate liabilities fell EUR 111 billion to EUR 1,576 billion, outstripping the EUR 15 billion decline in aggregate assets to EUR 1,676....
Read more Dutch pension funds’ financial position improved
On Tuesday 28th May from 3:00-4:45 PM CET DNB will organize an online information session about fit and proper assessments.
Read more Information session about fit and proper assessments DNB
