Regulatory Alerts2017-07-19
Added · Updated
DNO for acts of insurance companies (Section 3:97 of the Wft)
Insurers with registered offices in the Netherlands must obtain a declaration of no-objection from DNB before reducing own funds through capital repayment, reserve distribution, or dividends if doing so would cause a breach of the solvency capital requirement or is expected to do so within twelve months. Additionally, insurers must secure DNB approval to change their capital structure by submitting shares or other controlled securities for admission to trading on a regulated market. This DNO obligation for initial public offerings applies with effect from 1 January 2025. DNB assesses these applications based on solvency, sound business conduct, and potential undesirable developments in the financial sector.