DNO for shareholdings (Section 3:95 of the Wft)

If you plan to acquire or expand a qualifying holding in the following financial institutions, you 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.

Risk-based assessment

DNB assesses applications for a DNO, as referred to in Section 3:95(1) of the Financial Supervision Act (Wet op het financieel toezicht – Wft), on a risk-based basis.

Under this risk-based supervisory approach, DNB first determines the risk level of the DNO applications submitted to it. Where an application has a low-risk profile, only a limited substantive assessment is carried out. In such cases, shortly after the completeness of the application has been established, DNB informs the applicant that a positive decision will follow. Where an application does not have a low-risk profile, the DNO application is assessed, in whole or in part, on its substance.

Through this supervisory approach, DNB aims to ensure that applicants submitting a straightforward, low-risk DNO application receive a response more quickly. This approach applies to applications on which DNB takes a decision.