Regulatory Alerts2017-04-01
Added · Updated
Prohibition on operating as a bank without a licence
Entities are prohibited from pursuing the business of a bank in the Netherlands without a licence from the European Central Bank or a statutory exception under Section 2:11 of the Financial Supervision Act. De Nederlandsche Bank enforces this rule through regular checks and may impose administrative fines or issue cease and desist orders against non-compliant parties. Non-compliance also constitutes a criminal offence under the Economic Offences Act, which can be reported to the public prosecutor's office.
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