Regulatory Alerts2017-07-19
Added · Updated
DNO for shareholdings (Section 3:95 of the Wft)
Acquiring or expanding a qualifying holding in specific financial institutions requires prior consent from the Dutch Central Bank (DNB) or the European Central Bank (ECB). A Declaration of No-Objection (DNO) is mandatory for entities such as banks, insurance companies, investment firms, and payment institutions. Separate DNOs are required for each qualifying holding unless the applicant qualifies for a group DNO. Banks specifically require DNO approval from the ECB, while all other listed financial institutions require approval from DNB.
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