Regulatory Alerts2018-05-17
Added · Updated
Initial assessment – the assessment procedure step by step
De Nederlandsche Bank requires prospective management and supervisory board members to pass initial fitness and propriety assessments before assuming their positions. The fitness evaluation is position-specific, considering the nominee's education, experience, and the institution's risk profile, while the propriety assessment is a one-time review of integrity based on criminal, financial, and supervisory antecedents. The procedure typically takes six to eight weeks, extending to a maximum of 13 weeks for significant banks under European supervision, and may include an interview to clarify file details. Nominees and institutions must disclose all relevant facts, as failure to do so can result in a supervisory antecedent, and negative decisions can be challenged through objection and appeal procedures.