Regulatory Alerts2017-07-19
Added · Updated
DNO for acts of banks (Section 3:96 of the Wft)
Banks with registered offices in the Netherlands must obtain a Declaration of No-Objection from De Nederlandsche Bank or the European Central Bank for six specific acts. These acts include acquiring qualifying holdings in financial or non-financial enterprises, partial or full takeovers of assets or liabilities, mergers, financial or corporate restructuring operations, and a managing partner joining a limited partnership bank. Significant banks are required to seek approval from the ECB, while other banks apply to DNB, with certain transactions subject to specific threshold values.
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