Banking and finance: Financial services regulatory in Netherlands

De Brauw Blackstone Westbroek

De Brauw Blackstone Westbroek remains one of the strongest firms in the Netherlands for financial regulatory work, with a client list that includes the largest domestic financial institutions, which the firm advises on the full spectrum of regulatory work. Mariken van Loopik heads the group and has significant experience in regulatory capital transactions, as well as contentious matters before both domestic and European courts. Other key areas of work for the firm include the structuring of financial services and products, recovery and resolution planning and mergers. The team also has a strong track record in the investment management sector, with Kees Groffen handling fund regulation matters.

Practice head(s):

Mariken van Loopik

Other key lawyers:

Kees Groffen

Testimonials

‘With a good knowledge base, the team is composed such that on any subject service can be delivered instantly. Integration of law, regulation, network and governance is a strength.’

Key clients

LeasePlan Corporation

ING Group

De Volksbank

ABN Amro

Aegon

Achmea

Robeco

Rabobank

NN Group

APG

DLLI

Work highlights

  • Advised ABN Amro on the merger between ABN AMRO Group and ABN AMRO Bank.

NautaDutilh

Larissa Silverentand and Frans van der Eerden lead NautaDutilh’s financial regulatory group, which handles the full spectrum of work for both domestic and multinational clients, With several of the worlds largest banks instructing the firm on Dutch law matters. Van der Eerden is particularly sought after for his experience in matters involving capital requirements for banks, structuring for investment funds, and payment services, while Silverentand handles the regulatory aspects of financial sector M&A, as well as advising on PSD2 MiFID II compliance. The firm is also highly active in fintech, with Jasha Sprecher taking the lead on several of the firm’s matters in that area. Sven Uiterwijk was promoted to the partnership in 2020.

Practice head(s):

Larissa Silverentand; Frans van der Eerden

Other key lawyers:

Jasha Sprecher; Sven Uiterwijk; Roderick Watson; Sandra Vermuelen

Testimonials

‘I think the team is one of the best in the Netherlands when it comes to financial services regulatory work. The team is very knowledgeable and also approachable. They are able to combine their legal knowledge with a pragmatic approach and never lose sight of the interests of our business.’

‘Larissa Silverentand is a very knowledgeable lawyer, but also very pragmatic, with a lot of regulatory experience.’

‘Roderick Watson has a keen understanding of financial law. He is very approachable and combines his legal knowledge with a pragmatic approach.’

‘The most impressive people are Frans van der Eerden, Roderick Watson and Sandra Vermeulen. ’

‘The team stands out in speed, meticulousness, the ability to process the desired changes in the legal documentation and especially the ability to think along with the client.’

‘Full-service practice with outstanding legal and in-depth industry knowledge. Great for advisory work as well as litigation. 360 degrees approach of the matter. Ready to go the extra mile to get the best result for the client. Very pleasant to-the-point communication and enough resources to deliver the legal work speedily. ’

‘The lawyers we have been working with stand out for their academically sound, but very hands-on approach of legal matters. Jasha Sprecher and Larissa Silverentand are absolutely on top of cases and run a great team of professionals with whom it is a pleasure to work. ’

‘Frans van der Eerden always delivers best-in-class legal support. Combining the regulatory world with real-world requirements is a skill that makes Frans unique in his field.’

‘Frans van Eerden stands out for his sensitivity for parties’ wishes and interests, and manages to balance those adequately in both negotiations and drafting’

‘The Nauta Team deliver consistently quality advice which is supplemented by their detailed knowledge of navigating the regulatory landscape and dealing with the Dutch regulator. The team is also very responsive.’

‘Frans van der Eerden has provided valued and important input to our internal stakeholders and assisted with navigating regulatory complexity and novel issues with a sensible and pragmatic approach.’

Key clients

ABN AMRO Clearing Bank

ABN AMRO

American Express

ASR

Bank of America Merrill Lynch

BinckBank

Booking.com

BrandNewDay

Captin

CBRE Global Investors

Santander

Credit Suisse

Deutsche Bank

Dynamic Credit

European Merchant Services

First Data

Franx B.V.

Geldmaat/GSN

Goldman Sachs

HSBC

ING Bank

Ingenico

JPMorgan

Jungo B.V.

Klarna

KPN

Mizuho Bank

Morgan Stanley

MUFG

NIBC Bank

Nomura

Orix/Robeco

Payoneer

PIMCO

Rewire

Rabobank

Sixth Street Partners

Takeaway

The Norinchukin Bank

Triodos

Uber

UK P&I Club/Thomas Miller

Van Lanschot

Vantiv

Vista

VIVAT

Volksbank

VvAA groep B.V.

Wells Fargo

Wex

WorldFirst

WorldPay

Xe (part of Euronet)

Work highlights

  • Assisted WorldFirst from the Ant Financial group with obtaining its e-money license and implementation of its payment service entities in the Netherlands.
  • Assisting Sixth Street Partners on the further expansion of its insurance business in the Netherlands.
  • Assisted the State of the Netherlands on setting up a €12bn state aid credit insurance scheme during the Covid-19 outbreak.

Stibbe

Stibbe remains one of the Netherlands’ key players for regulatory work, handling enforcement matters in addition to a strong compliance and licensing practice. Rogier Raas leads the group, and handles the regulatory aspects of complex matters including mergers between financial institutions, the launch of cross-border financial products, and the entry of foreign institutions into the Dutch market, as well as working alongside the firm’s litigation team in contentious matters. Senior associate Roderik Vrolijk is recommended for matters involving corporate trust services, including compliance and governance work in addition to dealings with regulatory bodies, while fellow senior associate Suzanne Kröner-Rosmalen is another key name within the practice, particularly regarding remuneration matters.

Practice head(s):

Rogier Raas

Other key lawyers:

Roderik Vrolijk; Suzanne Kröner-Rosmalen; Soeradj Ramsanjhal

Testimonials

‘Soeradj Ramsanjhal has in-depth knowledge of the WWFT and WTT regulations, and the ability to cut through some of the complexities, and bring simplicity and logical thinking to how the regulations should be interpreted. Roderijk Vrolijk also shares in this ability, and both are very strong allies when navigating the world of regulatory compliance in The Netherlands.’

‘Stibbe were exceptionally prompt and helpful. The team is very knowledgeable and a genuine pleasure to work with. ’

‘Roderik Vrolijk is extremely helpful, and very clearly expert in Dutch regulatory law.’

Key clients

ABN AMRO

ABP

Acapture

Aegon

AmTrust

APG

Ageas

Apax Partners

Aquiline Capital Partners

Argentex

AQR Capital Management

ASMI

Assurant

a.s.r.

Athora

Atradius

Atrium European Real Estate

Avega

Baillie Gifford

Bank of America Merrill Lynch

Barclays

Baring Private Equity Asia

BDO

Belfius

Blackstone

BNP Paribas

Boussard & Gavaudan

Canada Life

Carlyle

Centtrip

Charles Schwab

Commerzbank

Crédit Agricole

Dasym Investment Strategies

Delivery Hero

Deutsche Bank

Dyme

Egeria

Euroclear

European Investment Bank

EY

ExxonMobil

Fiserv

GMO

Goldman Sachs

Grupo Catalana Occidente

Guy Carpenter

HPE Growth Capital

IKEA

ING

Intertrust

Irish Life

Intercontinental Exchange (ICE)

InsingerGilissen

Investcorp

J&T

KAS BANK

KKR

LeasePlan

Lombard Odier

Macquarie

Mediocredito Italiano

Mercedes-Benz

Monument Re

Morgan Stanley

NB Private Equity

Neuberger Berman

NN Group

Northleaf Capital

Novisource

Nuveen

Work highlights

  • Advised Athora on the change of control application with the Dutch Central Bank for the acquisition of Dutch life insurance company Vivat.
  • Advised ING on a new and innovative investment management solution.
  • Assisted Assurant in the license application process in the Netherlands.

Allen & Overy LLP

Allen & Overy LLP continues to represent a wide range of both international and domestic financial institutions, with a practice that covers the full spectrum of financial regulatory work but is particularly notable for its work with new entrants to the Dutch market, and on the set-up of new initiatives and financial products for established market players. The team is led by Gerard Kastelein and counsel Joost Elsenburg, both of whom are highly experienced in the field. Brechje van der Velden is another key name within the team, focusing on litigation and regulatory enforcement matters. Ellen Cramer-de Jong is regularly sought after to advise financial institutions, funds and asset management companies on regulatory matters. Senior associate Daphne van der Houwen is also noted.

Practice head(s):

Gerard Kastelein; Joost Elsenburg

Other key lawyers:

Brechje van der Velden; Daphne van der Houwen; Sanne Machiels; Ellen Cramer-de Jong

Testimonials

‘Very responsive, significant relevant experiences and extremely professional.’

‘The A&O service is characterised by an outstanding quality, a one-stop-shop principle, and a very hands on mentality. ’

‘Joost Elsenburg has in-depth knowledge of his subject matter; very good theoretical background and solid knowledge of the EU laws in relation to financial/banking services; responsive; pragmatic when it comes to providing solutions; business-oriented solutions which are at the same time compliant to the laws.’

‘Daphne van der Houwen is very knowledgeable and hard working, with a very good sense of sensitivity.’

‘Sanne Machiels is very knowledgeable and hard working, and is willing to go the extra mile to provide value to the client’

‘The team has in depth knowledge of both specific Dutch and international regulations. It has the additional benefit of having some of the leading legal practitioners in its field and an extensive international network. Good mix of legal/academic knowledge and practical advice.’

‘Ellen Cramer de Jong is very involved in the work she does and also shows that it is important to maintain a good relationship with the client.’

‘Both Daphne van der Houwen and Joost Elsenburg have a good understanding of our business needs, provide practical advice and assist in making the internal risk assessment.’

‘Access to expertise globally and the ability to pull together significant resources across the globe.’

‘Daphne Van Der Houwen is practical, insightful and always available. I value her responsiveness, her understanding of regulatory framework and her practical advice and problem-solving skills. She is a highly effective advocate.’

‘Ellen Cramer de Jong and Joost Elsenburg are both very sharp and helpful.’

Key clients

Aegon

Allianz

Anbang / Dajia Insurance Group

Bencis

Dutch state

European Central Counterparty

FM Global

HSBC

ING Bank

JPMorgan

MUFG

NIBC

Rabobank

Reinsurance Group America

Saxo Bank

Tradeweb

UBS

Vesteda Investment Management

BinckBank

BNP Paribas Cardif

FIFA

Nordea Asset Management

Prosus

VISA

TMNL

Twinfield

Quintet

Work highlights

  • Assisting FIFA on setting up the FIFA Clearing House, a payments service provider that will facilitate the global payments of training rewards.
  • Advised Saxo Bank on its €23m public offer for BinckBank, a Netherlands based fintech bank and broker, including obtaining regulatory clearances from the ECB and DNB.

Baker McKenzie

Baker McKenzie has continued to expand its banking practice, with the recent arrival of Tim Alferink from PwC Legal, who is particularly experienced in the fintech sector and in matters relating to anti-money laundering regulations and associate Martijn Stolze from an in-house position at Rabobank. Corrine Schott leads the group, which is particularly notable for its handling of AIFMD and MiFID matters, as well as advising payment services providers on their regulatory issues.

Practice head(s):

Corinne Schot

Other key lawyers:

Tim Alferink; Martijn Stolze

Testimonials

‘Corinne Schot is a very hands-on and pragmatic lawyer who knows the financial sector very well.’

Key clients

Equinix

Waard Leven N.V.

Rembrandt F&O

Mollie

Work highlights

  • Assisted Equinix with financial regulatory considerations with respect to the creation of a new $1bn+ Dutch joint venture with GIC to develop and operate hyperscale data centres in Europe.
  • Advised Waard Leven on the acquisition of a Dutch portfolio of term life and savings policies from the Dutch branch of Belgian-owned Argenta Bank-en Verzekeringsgroep.
  • Advised Rembrandt F&O on all aspects of a new M&A service it plans to offer in the Netherlands.

Clifford Chance

Titus de Vries and Jurgen Van Der Meer lead the team at Clifford Chance, which is recommended for cross-border work and work involving the fintech sector. Senior counsel Marian Scheele is another key figure within the team, with significant experience in the regulatory aspects of investment funds, as well as acting for fintech clients alongside Amsterdam managing partner Bas Boris Visser, while Robert Smits is highly regarded for AIFMD and UCITS work.

Practice head(s):

Titus de Vries; Jurgen van der Meer

Other key lawyers:

Marian Scheele; Bas Boris Visser; Robert Smits

Key clients

Adyen

TenCent

Worldpay

Florijn

ING Group

MarketAxess

DeGiro

LiteBit

Emesa

Rabobank

BNP Asset Management

Blue Sky Group

IMC

Aegon Investment Management

CACEIS

Dentons

Dentons continues to expand its financial regulatory team, with the practice now jointly led by new hires Arno Voerman and Pien Kerckhaert, who joined the firm from Van Doorne and Finnius respectively. Voerman is particularly experienced in fintech and payment services, frequently advising clients on PSD2 compliance as well as cryptocurrency, foreign entries into the dutch market, and the launch of new payment services for established clients, while Kerckhaert handles work for financial institutions and clients in the investment management sector, including MiFID, AIFMD, UCITS, CRD IV and CRR regulations.

Practice head(s):

Arno Voerman; Pien Kerckhaert

Testimonials

‘Deep but practical knowledge of the regulatory environment governing regulated innovations and payments.’

‘There’s actually only one top-specialist in the market for regulatory law and that is Arno Voerman. He has profound knowledge on regulatory law and an excellent network in the payments industry.’

‘Arno Voerman is an important partner in the finance practice. He’s well known in the market and at the central bank. He’s the regulatory specialist to go to.’

‘Pien Kerckhaert has in-depth knowledge of insurance regulations, not only in the Netherlands but also from an EU perspective.’

‘Very good knowledge and wonderful value for money.’

‘Arno Voerman is a very reputable lawyer in the fintech area. Very good value for money. Very pragmatic and to the point.’

‘The team is composed of true experts who have an excellent understanding of the regulatory framework and the challenges for financial services companies. The team is well balanced and includes lawyers that have worked for financial companies themselves.’

‘I have worked with both Pien Kerckhaert and Arno Voerman. Both are experts in the regulatory arena and provide practical and pro-active advice. Communication is strong with no (billing) surprises.’

‘Arno Voerman brings a world of expertise and experience to the team.’

‘Arno Voerman clearly stands out for the Dutch market. He has a thorough knowledge of the law and a practical application.’

‘Pien Kerckhaert really stands out. She has great knowledge.’

Key clients

Citibank

CNA Hardy

ING

MUFG

Multi Safe Pay

UniCredit

Vitesse

DLA Piper

Paul Hopman leads the financial regulatory team at DLA Piper, which handles the full spectrum of non-contentious work, with notable recent matters involving Brexit-related relocation and EU licensing, cross-border mergers of financial institutions, and obtaining regulatory approvals for new financial products. The firm is also at the forefront of legal developments in the sector, having been one of several firms instructed by the European Commission to assist in drafting model clauses for the outsourcing of financial services to the cloud. Legal director Martijn Boeve joined the firm in 2020 from an in-house position at ING Bank.

Practice head(s):

Paul Hopman

Other key lawyers:

Martijn Boeve; Sophie Gillam

Testimonials

‘Internationally oriented with regard to financial regulations. Able to think cross-border and determine potential (business) risks. In-house legal knowledge combined with market experience.’

‘Paul Hopman and Sophie Gilliam both have a lot of experience within the Dutch Financial market, with local and international legislation and the various regulators. Proactive in thinking of solutions for issues, helping the business forward.’

Key clients

ING Bank N.V.

Rabobank

Societe Generale

Natwest

StarStone Underwriting Services B.V.

APG Asset Management

Avalara

Avantgate/2checkout

Kuwait Petroleum (Q8)

Verra Mobility Corp.

Tesla

BMW

Oracle

Enel Group

Lufthansa

ADP

Takeaway.com

VEON

Finnius

Financial regulatory boutique Finnius continues to act for a wide range of both domestic and international financial institutions, for which it handles both contentious and non-contentious regulatory matters. Recent work has included license applications for foreign entrants into the Dutch market, Brexit planning, fund regulation, PSD2, and AML compliance. Key individuals in the team include Casper Riekerk, who specialises in handling potential interventions by regulators, compliance specialist Bart Bierman, and Guido Roth, who focuses on investigations and enforcement cases.

Other key lawyers:

Casper Riekerk; Bart Bierman; Guido Roth

Testimonials

‘Effective advice and out-of-the-box thinking’

‘Bart Bierman understands clients’ need for practical advice and combines that with in-depth knowledge about the industry and (upcoming) rules and regulations.’

‘Small, highly dedicated group of competent lawyers who complement each other.’

‘Both Bart Bierman and Rosemarijn Labeur are very approachable, are on top of the newest developments in financial regulations and give very practical (and therefore useful) advice.’

‘Finnius is an expert in the field of financial services regulatory and they are excellent in translating the regulatory part into practice.’

Key clients

Mastercard

Euronext

De Volksbank

Triodos

Nederlandse Waterschapsbank

Aegon

Mizuho Bank Europe

InsingerGillisen Bankiers

Bunq

FMO

Credit Europe Bank

Citco Bank Nederland

Credit Agricole Consumer Finance

Obam

DeGiro

De Persgroep Nederland

Lynx

Stater Nederland

CCV Group

Floryn

Tele 2 Finance

Dutch Gift Card Association (Branchevereniging Cadeaukaarten Nederland)

GMO

Work highlights

  • Advised Obam Investment Management on obtaining its UCITS license application for managing the Obam fund, following a management buyout.
  • Advising sovereign wealth Fund ADIA on obtaining its regulatory approvals from the Dutch Central Bank for its participation in the acquisition of Dutch insurance group Vivat.
  • Advised fintech company Floryn on obtaining its license as an account information services providers under PSD II.

Linklaters

Linklaters continues to represent a wide range of financial institutions in regulatory work, and is often instructed on the launch of new financial products by foreign clients, many of whom operate in the fintech space, as well as handling the regulatory aspects of several mergers in the sector. Practice head Bas Jennen, who has significant regulator-side experience from previous positions, is also notable for his work in matters involving Aruba, frequently assisting the country’s central bank in financial and integrity supervision matters. Managing associates Jan Jans and Leonard van den Ende are also recommended.

Practice head(s):

Bas Jennen

Other key lawyers:

Jan Jans; Leonard van den Ende

Key clients

Julius Bear

Central Bank of Aruba

Dela Holding N.V.

Just Eat plc

Loyens & Loeff

Loyens & Loeff focuses primarily on regulatory counsel in relation to M&A deals in the financial sector, and the launch of new business financial products. Kitty Lieverse heads the team, acting for a wide range of domestic and international financial institutions, with a strong following in the payment services sector, as well as large traditional banking clients. Martijn Schoonewille is another key figure, and is particularly recommended for matters which overlap with the tech sector. At a more junior level, counsel Roderik Boogaard is one to watch, specialising in fund regulation.

Practice head(s):

Kitty Lieverse

Other key lawyers:

Martijn Schoonewille; Roderick Boogaard; Bart Joosen

Testimonials

‘The Loyens & Loeff team is top-class due to its individuals who are easy to approach and who have an excellent view of the Dutch financial regulatory landscape. Their advice is spot-on and practical to implement.’

‘Kitty Lieverse and Bart Joosen are two of the best lawyers, who can combine knowledge with practical advice.’

‘Legal and financial up-to-date knowledge and a practical way of working and thinking. ’

‘The L&L team is very approachable, has a good understanding of the local financial regulatory requirements, but also of our business. The team provides sound and practical advice on matters, not only locally but also internationally. ’

‘Kitty Lieverse is very approachable, understands our business well and is very service-oriented.’

Key clients

Fidelity National Information Services

Credit Agricole Investment Banking

Rabobank

Work highlights

  • Advised Rabobank on its cooperation with Black Rock on the development of a dedicated fund range for Rabobank clients.
  • Represented FIS on the Dutch law aspects of its agreement to merge with Worldpay, Inc., including regulatory representation towards the Dutch Central Bank.
  • Acted for Credit Agricole CIB on its investment in an Amsterdam-based fintech company.

Norton Rose Fulbright

Norton Rose Fulbright is home to a regulatory team which handles a wide variety of work, including Brexit planning, Fintech, AML compliance, and Dutch market entry for foreign clients. Floortje Nagelkerke heads the team and is highly experienced in fund regulation, the use of distributed ledger technology in payment systems, and the licensing obligations and notification processes imposed by Dutch regulators. At the more junior end, Nikolai de Koning is highly recommended for clients at the intersection of financial services and technology, handling data protection matters in addition to a strong financial regulatory practice.

Practice head(s):

Floortje Nagelkerke

Other key lawyers:

Nikolai de Koning

Testimonials

‘The team at Norton Rose is hands-on, and they are a partner in business. We have regular talks with Norton Rose to discuss regulatory changes in the market. This leads to good discussions and sharing of views from both sides.’

‘They are open and approachable. They are willing to think with you and develop solutions. They are great to work with.’

Key clients

ABN AMRO Bank (Clearing) N.V.

AFS

AmTrust Financial Services, Inc.

BUX

Deliveroo

European Central Counterparty N.V

ING Bank N.V.

Jane Street Financial

Markel Limited

Northern Trust

NPEX

Quantlab Europe B.V.

TMF Depositary N.V.

Toronto Dominion Bank

Euroclear

BNP Paribas Securities Services

Societe Generale

Cboe

CME

Work highlights

  • Assisted Cboe with the acquisition of EuroCCP.
  • Assisting the CME Group in obtaining authorisation for two of its Dutch subsidiaries in the Netherlands so that it can continue to service its European Union clients.
  • Assisted three investment advisors (Mirova Natural Capital, Fount and Cardano Development) and the legal titleholder (Stichting AGRI3) of the AGRI3 Fund with setting up the AGRI3 Fund and related financial regulatory matters.

Simmons & Simmons

With a wide range of prominent clients in both the domestic and international banking spaces, as well as asset managers, Simmons & Simmons continues to handle a wide variety of regulatory work. Rezah Stegeman is the key figure in the regulatory team, and has recently been active primarily in the fields of Brexit planning, often working with clients of the firm’s global network, and ESG regulations. Additionally, the firm has a strong track record in pensions work, advising both the funds themselves and managers on their obligations. Supervising associate Aron Berket is one to watch at the junior end.

Practice head(s):

Rezah Stegeman

Other key lawyers:

Aron Berket

Testimonials

‘The team is responsive, and comes up with creative and commercial solutions.’

‘Rezah Stegeman and associate Aron Berket stand out. They are quick to respond to questions, have great connections with local regulators, and the insights they’ve been able to relay to us have been key in planning changes to our business.’

‘The team is approachable and can translate theory into practice. The team responds quickly and is flexible.’

‘The level of knowledge of our advisors is very high. Furthermore, a lot of effort is made to understand the client properly before being advised. This always results in tailor-made advice.’

‘We see the team as thought-leaders in The Netherlands in the areas of OTC-derivatives and clearing of derivatives.’

‘The hands-on mentality and depth of knowledge of partner Rezah Stegeman and his associate Aron Berket are particularly valuable to us.’

Key clients

PGIM

DWS (Deutsche Asset Management

Lazard

Baillie Gifford

Rabobank

BNG Bank

NN Bank

APG

Aegon

MN

Robeco

Work highlights

  • Advised J.P. Morgan and ABN Amro Bank on executing a block trade of Adyen shares worth €311.6m.
  • Advised the client on the transition from Robeco acting as fiduciary manager to Achmea Investment Management.
  • Advised the client on the rules applicable when offering portfolio management services to Dutch pension funds.

CMS

Marc van Zanten and Eduard Scheenstra lead CMS’ banking team, which houses a regulatory department that acts for several large domestic and international banks, insurtech firms, and fintechs. The firm is also particularly notable for its work with the financial services arms of large corporates such as car manufacturers. Counsel Tessa Penninks is one of the key regulatory practitioners at the firm, handling several of its largest matters.

Practice head(s):

Marc van Zanten; Eduard Scheenstra

Other key lawyers:

Tessa Penninks

Key clients

ABN AMRO Bank N.V.

ING Bank N.V.

Rabobank

Deutsche Bank AG

HSBC Bank

Münchener Hypothekenbank eG

Deutsche Pfandbriefbank AG

Raiffeisen Bank AG

Erste Group Bank AG

Wells Fargo Bank, National Association

Aspen Real Estate Investment B.V.

Capreon

Oaktree / Kadans

Fidelity

M&L

Patrizia

Landesbank Saarbrücken

Aareal Bank AG

CitizenM

Volkswagen Pon Financial Services

RCI Financial Services (Renault)

ALD Automotive

Opel Finance

Lemonade Insurance N.V.

Work highlights

  • Advised unicorn InsurTech Lemonade on the successful implementation of its business in the Netherlands.

Hart advocaten N.V.

Boutique firm Hart advocaten N.V., which exclusively represents financial institutions, is particularly notable for its work on behalf of clients facing investigations by regulators, as well as representing clients in civil proceedings brought by corporates against financial institutions. Frank ‘t Hart heads the team alongside senior associate Laura Stortelder, while the firm also saw the arrival of senior associate Otto Klaassen from an in-house position with ASML.

Practice head(s):

Frank ‘t Hart; Laura Stortelder

Other key lawyers:

Otto Klaassen

Testimonials

‘Hart Advocaten combines excellent knowledge of the law with an excellent knowledge of the organisation they represent.’

‘The team of Hart Advocaten is small but very effective and knowledgeable. Their advice is always to the point and pragmatic.’

‘It is a boutique firm with in-depth knowledge of all regulatory matters concerning the finance industry in the Netherlands and great client involvement’

‘Hart Advocaten (Frank ‘t Hart and team) is really an expert in the financial law. We have never met such a committed lawyer and team.’

‘Frank represents most of the main players in regulated fund management in the Netherlands and has an intimate relationship with the local regulator. He gives proactive advice on topics that are pertinent and timely within the market. Other peer firms are much more impersonal and do not tailor advice to actual situations.’

‘Frank is the stand out partner of this firm.’

‘Frank is quite extraordinary in his way of working, always looking ahead for new legal challenges and happy to share his knowledge.’

‘Frank ‘t Hart guides an impressive team, all prepared to go the extra mile.’

‘Hart advocaten has the flexibility of a small firm, but the expertise of a big firm.’

Key clients

Achmea

Aegon, including Knab

Argenta

Bank Degroof Petercam s/a (Belgium and Luxembourg)

BUX

Rabobank

Scildon

Van Lanschot

Work highlights

  • Assisting the former chairman of the Executive Board of SNS REAAL during the inquiry ordered by the Amsterdam Court of Appeal.
  • Represented NNEK and Wijs & Van Oostveen in proceedings against the Tax and Customs Administration; the case is now before the Supreme Court.

Houthoff

Berry van Wijk is the key name in the regulatory team at Houthoff, and is highly experienced in the regulatory aspects of mergers between financial institutions, along with Brexit planning, dealings with regulatory bodies, and boardroom-level strategic advice. Counsel Roel Theissen is another key member of the team, with a particular focus on prudential supervision from both a domestic and European perspective.

Practice head(s):

Loet Venrooy

Other key lawyers:

Berry van Wijk; Roel Theissen

Testimonials

Houthoff is one of the most locally rooted firms in the Netherlands which is a clear added value when it comes to banking regulatory matters. On the other side their international capabilities are multiplied by their very active role in leading legal networks, such as Lex Mundi.

Loet Venrooy is obviously the leading figure of the firm when it comes to high level regulatory questions. He has a strong reputation in handling complex matters in a smart and pragmatic way, providing hands-on approach and sharp advice to solve issues, backed by a profound and extensive knowledge of the regulatory framework.

Jessica Terpstra is a first class lawyer for all banking regulatory and securities law issues. She is extremely competent, an excellent technician and particularly client focused.

Berry van Wijk is always available on short notice for us if necessary. Committed, well informed, looking for solutions fitting our organisation and very pleasant to work with.

I am working hand in hand with the banking and finance partners and counsels at Houthoff. Some matters revealed to be very time sensitive, complex and needed an efficient coordination. Working together with Houthoff and its competent and responsive team on cross-border transactions is a real key success factor for our international clients. They are second to none in terms of responsiveness and quality of output. Houthoff as a firm is also well structured, organized and coordinated, which is, from my point of view, an explanation of the firm’s efficiency.

Key clients

Söderberg & Partners

Yarden

SDU

Corporation Service Company

Work highlights

  • Represented Söderberg & Partners, a key investor in the financial sector in the Nordics, in multiple acquisitions of financial services providers.
  • Asisted Yarden and its two shareholders (Yarden Association and Stichting Yarden) on the sale of Yarden to DELA.
  • Assisted Corporation Service Company in the acquisition of the TCS Group.

Lexence

Lexence is particularly recommended for investment funds regulation, with a strong track record in MiFID II, foreign entry into the Dutch funds market, and the acquisition of regulated entities. The firm is also strong in the payment services sector, advising several clients on PSD II compliance and representing them in litigation where necessary. Charles Destrée heads the team, while associate Bas Zandvliet is one to watch.

Practice head(s):

Charles Destrée

Other key lawyers:

Bas Zandvliet

Testimonials

‘Always on time and pro-active communicators, they always create a clear roadmap of the process and update us along the way.’

Key clients

Gencap Partners, Inc

Modern Dental Group

Waterland private equity

UnieKaas Beheer B.V.

Flextronics International Europe B.V.

Kirloskar Brothers Limited

Uniface B.V.

Intertrust

Agro Merchants Group/Oaktree

Takeaway.com N.V.

MSREF

H2 Private equity

Orange Clover Law

Boutique firm Orange Clover Law houses a financial regulatory team led by Alex Gonzalez, who acts for a wide range of clients including investment funds, banks, custodians, and asset managers among others. Key areas of recent work for the firm have included Brexit planning, licensing requirements, fintech and crypto, and MiFID II implementation. The firm has continued to expand at the associate level, with new hires Duco Popperna and Ademir Sehomerovic joining from Houthoff and Eversheds Sutherland (Netherlands) B.V. respectively.

Practice head(s):

Alex Gonzalez

Other key lawyers:

Duco Popperna; Ademir Sehomerovic

Key clients

New York Stock Exchange

Legal & General Investment Management

DRW Trading

Radix

Jump Trading

CTC Trading

Bain Capital

Headlands

XR Trading

Vivoryon AG

Cinven

Incomlend

Ninety Nine

Etoro

Blue Fire Capital

Hansard

Triton (PE)

Avedon Capital Partners

Work highlights

  • Advising NYSE on matters relating to the SPDR Dow Jones Industrial Average ETF Trust, including on the: implementation of the Benchmark Regulation; implementation of the PRIPs (Packaged Retail Investment Products Regulation); the transfer of paying agent duties to State Street; and the annual update of the prospectus of SPDR Dow Jones Industrial Average ETF Trust.
  • Assisting Legal & General Investment Management with the negotiations of various mandates to manage portfolios of pension funds in the Netherlands, including advising on outsourcing requirements the pension funds must comply with.
  • Advising DRW, a globally operating proprietary trading company, on setting up a two trading companies in the Netherlands that will function as its EU trading hub post Brexit, including assisting and advising on the implementation of MiFID II and MiFIR and the related license application with the AFM.

Osborne Clarke

Johannes de Jong heads the team at Osborne Clarke, which is particularly active in the fintech sector, with a client base that includes payment service providers, crowd lending platforms, and cryptocurrency businesses, in addition to more traditional banks and funds. The firm often handles the set-up and licensing of foreign business looking to open in the Netherlands, with several recent matters relating to Brexit and its implications.

Practice head(s):

Johannes de Jong

Key clients

October Nederland

iSwap Euro

CashFlows Europe

TheCurrencyCloud

VanEck Asset Management

CL Venture Partners

Acquis Insurance Management

ASN Beleggingsinstellingen Beheer (ASN Bank)

CryptoRefills

iZettle

Work highlights

  • Assisted ASN Beleggingsinstellingen Beheer BV with a license application to manage UCITS in the Netherlands and with the split-up of a listed AIF umbrella fund into a separate UCITS umbrella and an AIF umbrella fund.
  • Assisted iSwap Euro BV, part of TP ICAP, with obtaining relevant regulatory authorisation from the Dutch AFM to operate an MTF swap trading venue under MiFID II in the Netherlands to continue its inter-dealer swap trading platform post-Brexit.
  • Assisted CurrencyCloud, a UK-based electronic money institution and payment service provider, in setting up its Dutch business and obtaining an EMI license from the Dutch regulator the Dutch Central Bank

Van Benthem & Keulen

Van Benthem & Keulen is active across the financial regulatory space, with a number of domestic and international banks among its client base. Frank Richel heads the overall banking and finance group and is particularly focused on the interaction between financial regulation and contract law, while Danielle Martens-Schutten heads up the regulatory team, advising clients on the full spectrum of Dutch financial regulations.

Practice head(s):

Frank Richel; Danielle Martens-Schutten; Robin van Driel

Testimonials

‘The team members of VBK are extremely engaged and are constantly delivering perfect results for our firm. Their commitment is over the top.’

‘Danielle Martens is an outstanding professional partner in their firm.’

Key clients

Oikocredit Ecumenical Development Cooperative Society U.A. and Oikocredit International Share Foundation

Meerdervoort Group

Econocom

Citibank Europe Netherlands Branch

de Volksbank

Triodos Bank N.V.

Work highlights

  • Assisted Oikocredit in the approval process of its prospectuses related to the ongoing issuance of shares and depositary receipts.
  • Assisted an agency active in the video gaming industry with the set-up of a private equity fund targeting international investors.
  • Assisted a fund manager in the restructuring of one of its real estate funds for institutional investors (€0.4bn AuM).

Van Doorne

Van Doorne is highly experienced in the fintech sector, with a dedicated team that handles the full spectrum of work for such clients. Additionally, the team is well-known for its experience in pensions, with senior associate Sijbren Kuiper handling regulatory matters in the sector, while Friso Foppes advises on transactions. Other key names within the team include fintech specialist Louis Jonker and civil litigation specialist Simone Hoogeveen.  

Practice head(s):

Simone Hoogeveen; Jan Leliveld; Roel Botter; Cees Kniestedt; Friso Foppes

Other key lawyers:

Sijbren Kuiper; Louis Jonker

Key clients

Mogelijk Vastgoedfinancieringen

BillFront

The pension fund for the Dutch Postal Service (Stichting Pensioenfonds PostNL)

Terra Payment Services (Netherlands) B.V.

Stichting Pensioenfonds Openbaar Vervoer and Stichting Spoorwegpensioenfonds

Aegon

Cobase (Financial Transaction Services B.V.)

Bizcuit / Bizcuit Payments