Dutch institutional investors such as pension funds, investment funds and insurers kept their investments in risky bonds roughly the same over the past 12 months. This is a break from previous years: since 2019, large investors had expanded their exposure to what are termed high-yield bonds.Read more
The InnovationHub is a joint information desk of De Nederlandsche Bank (DNB), the Dutch Authority for the Financial Markets (AFM) and the Authority for Consumers & Markets (ACM). It provides support to firms that have questions about supervision and regulations relating to innovative financial products and services. The InnovationHub is open to both new and existing firms, irrespective of whether they are subject to supervision.
What can the InnovationHub do for you?
With the InnovationHub, we aim to accommodate innovation in the financial sector in the best possible way, but always within the limits of the law. We provide the following services:
- Explanation and consultation on specific supervisory rules and policies in each stage of your innovation process.
- Help with getting in touch with the right supervisor.
- Information on the scope of supervision.
- Insight into innovative developments within DNB that could potentially support your innovations, for example innovation in information exchange between institutions and DNB.
You can ask your question using the link below. Please let us know the following specific topics so that we can provide you with the best possible answer:
- Your specific question that you need an answer to.
- How your product or service works.
- The innovative element of your product or service.
- Which regulations you believe apply.
- What potential bottlenecks you see.
We aim to provide market participants with quick and relevant answers. Communication via the InnovationHub is informal in nature, and in principle we do not issue formal opinions or advice.
We aim to reply within 10 working days and can usually respond to non-complex questions within 5 working days.
What we can do for you
- We can inform you about existing laws and regulations and how they apply to your question. We can do this at any stage of the innovation process, from concept to Minimum Viable Product stage.
- We can look at experiment results that fit within the legal frameworks and are related to your question, but please note that DNB, the AFM and ACM cannot exempt you from legal requirements if you want to experiment with an innovative product or technology.
- We are open to discussing the deployment of technology to meet existing legal standards in alternative ways.
- We are not in a position to amend legislation in order to resolve bottlenecks, but we are open to a dialogue with you to obtain insight into desirable legislative amendments.
TIP: Open Book on Supervision
Before asking your question, we encourage you to check out our Open Book on Supervision. You can do so via this link.
Besides current news releases, you will find all the information you need if your institution is currently subject to our supervision, or may become subject to our supervision in the future. From licence applications and supervisory reports, to information about our supervision of financial crime prevention. You can search for information and make your selection based on your supervision phase or sector
Frequently asked questions
Which supervisory authority do I need?
If you are unsure whether DNB, the AFM or ACM is the right organisation to answer your question, please let us know in the contact form. We are in close contact about the questions submitted to the InnovationHub. We will review your question and supporting information, and decide which authority is best equipped to answer it, so please formulate your question as specifically as possible.
Does the InnovationHub also give advice?
No, the aim of the InnovationHub is to provide practical answers to supervisory and regulatory questions. If you are in need of a formal opinion, we can refer you to the appropriate supervisory authority.
Is the InnovationHub the same as a Regulatory Sandbox?
No, the InnovationHub is happy to share ideas and views within the legal frameworks, but we are not a Regulatory Sandbox in which laws and regulations are (temporarily) set aside or waived.
Can representatives of licensed institutions (e.g. business units or compliance) also turn to the InnovationHub?
Even if you are already licensed, you can submit questions to the InnovationHub about your innovative financial products and services. Contacting the InnovationHub at an early stage of development may help to clarify things. We will ensure that your account supervisor is also informed of your query.
What happens to your personal data?
DNB, the AFM and ACM will decide who is best equipped to address your question. In that process, we may share your personal data.
For some of our services we need your personal data. We will never use your personal data for any other purpose than that for which they are intended. We will never offer you any unsolicited information or services. We will not disclose your personal data to others, unless the law obliges us to do so. For instance, personal data may be used for investigative purposes if someone commits a criminal offence or makes unlawful statements.
Can I derive rights from the answers I get from the InnovationHub?
No, the InnovationHub aims to help out innovative market parties quickly and answer their questions. This is why our communications are informal. If you seek a formal opinion, we can refer you to the formal channels for supervised institutions, market access and/or your current supervisor.
Are there any costs involved in using the InnovationHub's services?
No, the InnovationHub is a free service. It supplements DNB’s Information Desk and the AFM’s Business Desk in the area of financial innovations.
Do DNB, the AFM and the ACM also collaborate with the Dutch Data Protection Authority?
The Dutch Data Protection Authority (AP) does not participate in the InnovationHub.
We are aware that many innovations in the financial sector give rise to questions about the use of customer data. Where relevant, we may forward your question to the Dutch Data Protection Authority.
Do the DNB and AFM work with supervisory authorities abroad?
Yes, we believe it is important that market parties are treated equally internationally. For this reason, we share with supervisory authorities in Europe and beyond in which way we handle questions involving innovative services and products.
Does the InnovationHub publicly disclose all questions and answers?
No, we do not share any information obtained from or about parties that have asked us their questions. However, we do communicate about the interpretation of laws and regulations through the Open Book on Supervision, and we may update the information found there based on interactions in the InnovationHub. When we publish aggregated information about the number and type of queries coming through the InnovationHub, this information is never traceable to a specific query, institution or person.
What is the InnovationHub's role in the area of financial supervision?
The InnovationHub aims to improve communications between the supervisory authorities and market parties. To this end, InnovationHub staff and supervisors aim for an efficient exchange of information.
Are firms offering crypto services subject to supervision in the Netherlands?
Yes, they are subject to DNB's integrity supervision. They must register if they wish to offer their services in the Netherlands. For more information see the “Integrity supervision of crypto service providers” page.