Regulatory Alerts2017-03-03
Added · Updated
Q&A Further interpretation of the exception to the 20% bonus cap for the parent company of a group
De Nederlandsche Bank clarifies that the Dutch-based parent company of an international group must be the highest-ranking entity within the European Economic Area, not necessarily globally, to qualify for the 100% bonus cap exception under Section 1:121(5) of the Financial Supervision Act. The entity heading the group does not need to be authorized as a bank or investment firm, and the required five-year lookback period for staff working outside the Netherlands starts five years prior to the application of the exception. The three years of non-Dutch work experience required for staff do not need to be consecutive, and the parent company itself is not required to be based in the Netherlands for three years to be eligible.
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