Does the "una via" principle also apply to de facto directors?
Yes, if an instance of non-compliance with financial supervision legislation constitutes an offence, the supervisory authorities must choose between administrative-law or criminal-law settlement. This applies to both the legal entity and the de facto director. The Covenant on the avoidance of unlawful concurrence of administrative and criminal-law sanctions (Convenant ter voorkoming van ongeoorloofde samenloop van bestuurlijke en strafrechtelijke sancties) specifies in which cases the manner of settlement must be discussed and agreed with the Public Prosecution Service and the Fiscal Intelligence and Investigation Service/Economic Investigation Service (Fiscale Inlichtingen- en Opsporingsdienst/Economische Controledienst – FIOD/ECD) of the Dutch Tax and Customs Administration.
Liability-Driven Investment funds (LDI funds) mainly invest in long-term government bonds and long-term interest rate derivatives. The use of these interest rate derivatives exposes LDI funds to liquidity risks in case of large interest rate fluctuations.
Read more Limited liquidity risks in Euro LDI funds
On June 6th, DNB started the public consultation of the 2024 amendment round of the Deposit Guarantee Scheme (DGS) Policy Rules for banks. Parties are requested to submit responses to the consultation to DNB by 19 July at the latest.
Read more Start consultation amendments DGS Policy Rules 2024
This week, the European Supervisory Authorities (EBA, EIOPA and ESMA – ESAs) have published their final reports on greenwashing in the financial sector.
Read more European Supervisory Authorities publish reports on greenwashing in the financial sector
De Nederlandsche Bank (DNB) imposed an administrative fine of €15,810 on investment firm Black Swan Capital B.V. (BSC) on 21 May 2024, for failing to hold sufficient own funds from the year-end 2019 until 21 July 2023.
Read more Fine imposed on Black Swan Capital for failure to hold sufficient own funds
