Regulatory Alerts2017-02-23
Added · Updated
Initial assessment – diversity and collectivity
De Nederlandsche Bank (DNB) assesses fit and proper candidates for management and supervisory boards by considering diversity in knowledge, experience, age, gender, and background. Candidates without an explicit financial background or sector experience may pass the assessment if the institution demonstrates that the board lacks specific expertise the candidate provides, the candidate possesses sufficient financial literacy, and the board collectively holds adequate financial knowledge. This approach applies to general board positions, whereas significant banking institutions remain subject to the European Central Bank's fixed criteria emphasizing specific financial sector knowledge and experience.
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