Regulatory Alerts2008-09-29
Added · Updated
Representative offices of banks established outside the Netherlands
Representative offices of banks established outside the Netherlands are prohibited from performing activities reserved to licensed banks or branches, such as inviting redeemable funds from the public or broking funds outside a closed circle. These offices must avoid creating the impression that they are supervised Dutch banks and are generally banned from using the word 'bank' in their name or business, unless they are established in another EEA member state. De Nederlandsche Bank (DNB) enforces compliance with these restrictions through directions, cease and desist orders, and administrative fines.
Topics
Share