DNO for shareholdings (Section 3:95 of the Wft)
Published: 19 July 2017
Under certain circumstances you or your company will need prior consent from DNB to acquire a qualifying holding in a financial enterprise. In specific cases, you must also apply for a DNO if you wish to expand a shareholding in a financial enterprise.
If you plan to acquire or expand a qualifying holding in the following financial institutions (target companies), you may need a declaration of no-objection (DNO).
- Settlement agent
- Manager of an undertaking for collective investment in transferable securities (UCITS)
- Investment firm
- Electronic money institution
- Special purpose reinsurance vehicle
- Financial institution with a certificate of supervised status
- Defined contribution pension institution
- Insurance or re-insurance company
- Payment institution
Our Open Book pages on market access will give you more information on these different types of institutions.
A shareholding in a bank
If you plan to acquire or expand a qualifying holding in a bank, you will need a DNO from the ECB. All other financial institutions need approval from DNB. You will need separate DNOs for each qualifying holding, except where you qualify for a group DNO.