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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
  • Bank
  • 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.

Information Declaration of no-objection

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