Regulatory Alerts2018-05-15
Added · Updated
Reassessment of Fit and Proper Status for Policymakers
Reassessments of suitability, reputation, and propriety for policymakers or co-policymakers in office are conducted only when reasonable grounds exist, such as breaches of law that would have warranted a negative initial decision. The procedure involves background screening, desk research, and interviews, with decisions made by Executive Directors of Supervision. If a person is found unfit, a provisional instruction for dismissal is issued, applying to the specific position for unfitness or all financial sector positions for propriety issues. The process allows for cooperation with the Dutch Authority for the Financial Markets and includes rights to present views, object, and appeal.
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