As part of an internationally coordinated effort, the Dutch Central Bank DNB agrees with Microsoft on an audit right in all Office 365 cloud service contracts with Dutch financial institutions.
This decree implements the Act on funding of financial supervision, which outlines how the costs of the AFM and DNB will be financed.
This bill provides how the costs of the AFM and DNB are financed.
On 17 February 2011, the Netherlands Authority for the Financial Markets ("AFM") levied an administrative fine on a brokerage service company O&B Finance Nederland B.V., and a director of a company controlling O&B Finance Nederland B.V. for violation of the Door-to-Door Sales Act (Colportagewet).
On 1 January 2011, CESR was replaced by the European Securities and Markets Authority (ESMA) as part of the financial supervision reforms in Europe.
The International Monetary Fund has assessed financial supervision in the Netherlands against international standards of supervision.
Some significant amendments to the Dutch Securities Giro Transfer Act (“SGTA”) took effect on 1 January 2011.
On 1 January 2011, Europe will get a new financial supervision system: the European System of Financial Supervisors ("ESFS").
The European Commission wants to revise the supervision of financial conglomerates and has published a proposal to amend the relevant directives.
The European Parliament, the European Commission and the member states have agreed on changes in financial supervision.