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15 October 2010 Supervision Supervision label Q&A

Question:

Are de facto directors and legal entities subject to the same penalty and disclosure regime?

Answer:

Yes, they are. The fines are identical and the Financial Supervision Act (Wet op het financieel toezicht – Wft) also stipulates that fines imposed on de facto directors must be disclosed unless their disclosure is or could be counterproductive to achieving the objective of supervision under the Wft.

sector

  • Banks
  • Clearing institutions
  • Collective investment schemes
  • Insurers
  • Payment institutions
  • Pension funds
  • Trust offices