Regulatory Alerts2023-07-12
Added · Updated
ECB and DNB Roles in Fit and Proper Assessments for Banks
Significant banks must submit fit and proper applications for directors and supervisory body members via the SSM Digital Portal (IMAS-Portal) as a single submission per person, while reappointments and certain second-tier functions are submitted via the Digitaal Loket Toezicht. For significant institutions, DNB processes the application and advises the ECB, which makes the final decision on suitability and integrity, potentially extending timelines and involving interviews. Non-significant banks submit applications to DNB, which generally makes the final decision, although the ECB may intervene in special circumstances. Screening for second-tier senior officers at both significant and non-significant banks is handled by DNB.