The Financial Action Task Force (FATF) released two documents, indicating jurisdictions with strategic deficiencies in their anti-money laundering and combating the financing of terrorism (AML/CFT) regimes.Read more
The assessment procedure
Applications for assessments can be submitted through the Digital Supervision Portal. The statutory period for processing applications for assessments is 13 weeks. If any necessary documents are lacking, this period may be extended.
Based on the information submitted DNB decides whether to invite the individual in question for an assessment interview. If a clear picture emerges from its own files and the documents submitted, it may come down in favour of the appointment without initiating an interview.
Should DNB however require more information, it will invite the individual for an interview. The interview will be held at DNB’s offices and usually lasts about 90 minutes.
DNB informs the individual by telephone as soon as it has taken a preliminary decision on the assessment of their fitness and propriety. After that DNB informs the firm if the outcome of the assessment is positive. It then confirms its decision in writing. If DNB intends to issue a negative decision, it informs the individual in writing of its intention and makes a telephone appointment with them to explain its point of view.
The individual and the firm will be given the opportunity to present their views on the preliminary decision, orally or in writing. DNB will consider these views in reaching a definitive decision. Both the individual and the firm may lodge an objection to the decision with DNB’s Legal Services Department. After the objection procedure they may lodge an appeal with the administrative-law sector of the District Court, and a further appeal with the Trade and Industry Appeals Tribunal.
- Crypto service providers
On 19 May 2021, following a ruling on an objection, we re-examined an earlier decision regarding a crypto service provider's compliance with the Sanctions Act.Read more
On 4 June, the Regulation on the Funding of Financial Supervision (available in Dutch) was adopted by the Ministry of Finance and the Ministry of Social Affairs and Employment, and published in the Government Gazette.Read more