A public consultation is being held until 11 May on proposed amendments to a number of financial markets regulations. The government wants the changes to take effect from 1 January 2012.
The changes would include:
- more stringent professional competence requirements for providers of pension insurance
- introduction of a duty to notify certain cash settled instruments
- clarification of DNB's power to enforce balanced corporate governance at financial institutions and, where necessary, intervene in the governance structure of a company with a major shareholder on the board or reject the structure and issue an order to amend it
- changes to the commission rules
- increase in the threshold for classification as 'professional market party' from EUR 50,000 to EUR 100,000.