DNO application - success factors
All parties submitting applications for DNOs of course want the procedure to progress as quickly as possible and to receive a DNO at the end of it. DNB does everything in its power to ensure a smooth and swift consideration process.
You can contribute to this effort by doing the following. We have looked at successful past applications to identify success factors. Obviously, complete and correct applications will be more successful.
The success factors underlying successful DNO applications are:
- Thorough preparation
It helps if you are aware of the different aspects involved in applying for a DNO, and why and how we assess your application. We have put the following background information on our Open Book on Supervision website for your convenience.
- The relevant sections of the law, so that you know the statutory provisions that apply (tip!)
- Explanatory notes to the DNO application form, listing for each item what we expect you to do (tip!)
- You should also carefully check whether your planned acquisition actually requires a DNO and whether you are applying for the correct DNO. We recommend that you ask a legal adviser to help you prepare (tip!)
- If you have a complex application, we recommend that you contact us first to discuss the details prior to submitting it.
- Fully completed application
For fear of stating the obvious: if your application is incomplete, we will be unable to assess it in full and we will have to ask you for supplementary information. This will take time, and the consideration period will not start. So be sure to submit a complete application. You will find more detailed instructions in the application form and the explanatory notes to the form.
- The standard of your application
If you thoroughly substantiate your application, demonstrating for each aspect how you satisfy the requirements for a DNO application, we will be able to assess all aspects of your application swiftly. High-quality information provides strong evidence in support of your application and enables us to complete the procedure in less time.
- Consult a legal expert
Practice has shown that applications are often more complete and of a substantially higher quality if the applicant has sought advice, for example from a legal expert specializing in the Dutch Financial Supervision Act (Wft). This enables us to consider applications quicker and better.