NETHERLANDS Law and Practice Contributed by: Johannes de Jong and Juliet de Graaf, Osborne Clarke N.V.
Osborne Clarke N.V. Jachthavenweg 130 1081 KJ, Amsterdam The Netherlands Tel: +31 20 702 8600
Email: charlotte.schuurman@osborneclarke.com Web: www.osborneclarke.com/nl/locations/the- netherlands
1. Legal Framework 1.1 Key Laws and Regulations Laws and Regulations Applicable to Dutch Licensed Banks Dutch-licensed banks are regulated by a broad set of laws which predominantly arise from European directives, regulations and guidelines issued by the European supervisory authorities. The main European regulations (not exhaustive) are: • the Capital Requirements Directive (2013/36/ EU); (a) Directive ((EU) 2024/1619) amending Directive (2013/36/EU), entered into force on 9 July 2024, but as a Directive the changes will need to be transposed into national law in each member state before they become applicable; • the Capital Requirements Regulation ((EU) 575/2013); (a) Regulation ((EU) 2024/1623) amending Regulation ((EU) 575/2013) entered into force on 9 July 2024 and will largely apply directly in all member states from 1 Janu - ary 2025;
• the Deposit Guarantee Schemes Directive (2014/49/EU); • the Bank Recovery and Resolution Directive (2014/59/EU); • the Anti-Money Laundering Directive ((EU) 2015/849), as amended, AMLD); • to the extent that a bank performs investment services: the second Markets in Financial Instruments Directive (2014/65/EU), the Mar - kets in Financial Instruments Regulation ((EU) 600/2014) and delegated regulations and technical standards thereto; and • for payment services provided by the bank: the revised Payment Services Directive ((EU) 2015/2366). European Regulations have direct effect in the Netherlands and are not separately copied in Dutch laws. The abovementioned European Directives, except AMLD, are implemented in Dutch law in the Dutch Financial Supervision Act ( Wet op het financieel toezicht , DFSA) and underlying regulations. AMLD is implemented in the Dutch Anti-Money Laundering and Anti- Terrorist Financing Act ( Wet ter voorkoming van witwassen en financieren van terrorisme ).
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