Regulatory Alerts2023-07-06
Added · Updated
Protocol of De Nederlandsche Bank N.V. and the Netherlands Competition Authority on concentrations in the financial sector in crisis situations
The protocol establishes specific agreements between De Nederlandsche Bank (DNB) and the Netherlands Competition Authority (NMa) regarding concentrations of financial enterprises during crisis situations. It outlines how supervisory authorities can deploy instruments such as emergency regulations and relief schemes to transfer a failing institution's portfolio, aiming to prevent failure and avoid the creation or strengthening of economic power concentrations that could significantly hamper competition. The document explicitly extends these provisions to the pension sector and supersedes the previous 1999 protocol, which lapsed upon the 2011 protocol's effective date of 4 January 2011.
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