Regulatory Alerts2017-04-01
Added · Updated
Dispensation from prohibition on taking repayable funds
De Nederlandsche Bank (DNB) outlines the strict conditions under which it may grant dispensation from the prohibition on taking repayable funds from the public under Section 3:5 of the Financial Supervision Act. Applicants must meet minimum requirements from the Decree on the Scope of the Wft, provide a guarantee from an authorized Dutch bank or public body, and demonstrate actual necessity for the dispensation. Dispensations are granted for a limited, non-extendable period, require a processing fee, and result in the applicant's inclusion in a public register detailing permitted activities and restrictions.
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