Pursuant to the Financial Supervision Act (Wet op het financieel toezicht or Wft), an exchange institution may not pursue its business until and unless it has been authorised by DNB. To determine whether authorisation is required, it must be decided whether the institution and its transactions qualify as an exchange office and, respectively, exchange transactions.
The law prohibits the pursuit of the business of an exchange office in the Netherlands unless authorisation has been issued by DNB. This prohibition also applies to the pursuit of the business of an exchange office through a branch office located in the Netherlands. The prohibition on operating as an exchange institution does not apply to parties that have already been authorised to pursue the business of a bank a or payment service provider.
Under the Wft, De Nederlandsche Bank (DNB) is responsible for the authorisation and supervision of exchange institutions. The activities may not be performed until such authorisation has been issued.
The Financial Action Task Force (FATF) released two documents, indicating jurisdictions with strategic deficiencies in their anti-money laundering and combating the financing of terrorism (AML/CFT) regimes.
Read more FATF warning lists – February 2023 update
De Nederlandsche Bank (DNB) assesses incumbent and prospective policymakers, such as management and supervisory board members, for fitness to fulfil their duties and whether their propriety is beyond doubt. In conducting our assessments, we also take any antecedents into account.
Read more Continuous notification requirement for antecedents
The Financial Action Task Force (FATF) released two documents, indicating jurisdictions with strategic deficiencies in their anti-money laundering and combating the financing of terrorism (AML/CFT) regimes.
Read more FATF warning lists – October 2022 update
Previous DNB policy statements may be read to mean that, in the context of sanctions screening, not all relationships must be screened. This is an incorrect conclusion, and DNB will therefore amend the relevant policy statements shortly.
Read more Sanctions screening
