Banking and finance: Financial services regulatory in Netherlands

De Brauw Blackstone Westbroek

'Availability, experience and knowledge come together' at De Brauw Blackstone Westbroek. The team utilises its international reach and its 'advantage of broad experience with different regulators' to assist clients with a wealth of regulatory matters, including licensing and market access, requirements in the context of mergers and acquisitions of banks, and governance and structure of business operations. Contentious work is also undertaken, with practice head Mariken van Loopik representing De Volksbank in proceedings against the Single Resolution Board (SRB) at the EU Court of Justice in relation to the calculation of its contribution to the Single Resolution Fund (SRF). Niek Biegman is also recommended.

Practice head(s):

Mariken van Loopik

Testimonials

Profound and always up-to-date knowledge in a continuously changing area, offering the advantage of broad experience with different regulators allowing for high quality of advice in determining approach, strategy, tactics.

Individuals think and perform and are different from competitors in accessibility/availability, working well under pressure, quality of network. Stand-out partner: Mariken van Loopik.

Excellent regulatory and governance practice.

Availability, experience and knowledge come together. In most cases includes access to regulatory bodies. Stand-out: Mariken van Loopik- regulatory.

Key clients

ING Group

Rabobank

ABN AMRO

LeasePlan

De Volksbank

DLLI

Robeco

APG

AEGON

NN Group

Achmea

Work highlights

  • Representing De Volksbank in proceedings against the Single Resolution Board (SRB) at the EU Court of Justice in relation to the calculation of its contribution to the Single Resolution Fund (SRF).
  • Advised ABN Amro Bank on the spin-out and sale of part of its private equity activities in a complex stapled transaction.
  • Assisted LeasePlan Corporation with its envisaged initial public offering, which required obtaining clearance from various regulators including the Dutch Central Bank.

NautaDutilh

At NautaDutilh, the 'impressive team of market experts' handles a wide array of regulatory law and 'combines sound legal knowledge and judgement with an approachable style'. Larissa Silverentand uses her 'outstanding legal skills' to assist clients with such diverse work as obtaining e-money and banking licences, advising banks on the restructuring and complete transformation of the handling of cash and ATMs in the Netherlands, and advising on crowdfunding platforms. Frans van der Eerden and senior associate Sven Uiterwijk are 'excellent, highly qualified and competent lawyers'. Also notable are senior associates Juliët de Graaf and Roderick Watson, and of counsel Pim Rank

Testimonials

Very highly qualified and competent. Reliable and always on time.

Frans van der Eerden and Sven Uiterwijk are excellent, highly qualified and competent lawyers with a good sense of urgency. In sensitive negotiations with a lot of stakeholders, they take everyone’s interests into account and don’t give up until a joint solution is found.

Frans van der Eerden is an excellent adviser who takes a lot of effort to pro-actively approach his clients and to stay involved with them. He cares!

Quick, clear and helpful advice.

Practical approach with very good business sense and a hands-on mentality. Full service and punctual. Because of their academic strength very much capable of assessing the issue with a 360 degree view and coming up with creative and to-the-point solutions. Great sparring partner. Compared to other firms they take a more thorough approach with a strong basis in legal theory, but without being too theoretical. Look further than other firms, past just the initial question at hand.

Impressive team of market experts – they combine sound legal knowledge and judgement with an approachable style.

Hands on, decisive, practical, to the point.

Larissa Silverentand: outstanding people skills, outstanding legal skills.

Professionals with a broad view on the client’s business. It is a pleasure to work with these very client-orientated guys. They are razor sharp in analysing the real issues and finding the answers.

The financial regulatory team is extremely well informed about developments in this field, they are a close team and apply their expertise (almost on a scientific basis) in a very practical manner.

Key clients

ABN AMRO

American Express

ASR

Bank of America Merrill Lynch

BinckBank

Captin

CBRE Global Investors

CNP Santander

Credit Suisse

Deutsche Bank

Dynamic Credit

First Data

Franx B.V.

Geldmaat/GSN

Goldman Sachs

HSBC

ING Bank

JPMorgan

Jungo B.V.

KPN

Mizuho Bank

Morgan Stanley

MUFG

NIBC Bank

Nomura

Orix/Robeco

Payoneer

PIMCO

Rabobank

Takeaway

The Norinchukin Bank

TPG Sixth Street Partners (TSSP)

Triodos

Uber

UK P&I Club/Thomas Miller

Van Lanschot

Vantiv

Vista

Vivat

Volksbank

VvAA groep B.V

Wells Fargo

Wordpay

Work highlights

  • Assisted Uber with obtaining an e-money license for its Netherlands-based entity Uber Payments.
  • Assisted The Norinchukin Bank Europe with obtaining its banking licence in the Netherlands.
  • Advised Worldpay on the Dutch regulatory aspects of its merger with FIS in a deal worth €34bn.

Stibbe

The team at Stibbe provides 'helpful and practical advice' on both advisory and litigious matters. The group has ample experience representing clients before the Dutch Central Bank, the Netherlands Authority for the Financial Markets and the Authority for Consumers & Markets, as exemplified by practice head Rogier Raas defending NN Group against allegations of mis-selling unit-linked insurance policies. On the non-contentious side, the practice assists with Brexit-related queries, advises on the implementation of the Revised Payment Services Directive (PSD2), and assists with the regulatory aspects of acquisitions. Senior associates Soeradj Ramsanjhal and Roderik Vrolijk, who is an 'excellent adviser' with 'extensive experience in the sector', are also recommended.

Practice head(s):

Rogier Raas

Testimonials

Very responsive team with experience in local and European regulatory matters. The team assisted with a PSD II related matter and the process was approved smoothly and without hiccups.

Roderik Vrolijk has an extensive experience in the sector and has an eye for the detail.

Quick response to ad hoc questions. Strong legal knowledge. Helpful and practical advice.

Well-established financial services practice.

Roderik Vrolijk – excellent adviser and very solution-oriented.

Key clients

ABN AMRO

ABP

Aegon

APG

Ageas

Apax Partners

AQR Capital Management

ASMI

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

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

NVB (the Dutch Banking Association)

Ordina

Payvision

Pershing Square Holdings

PGGM

Pioneer

Prisma Alternatives

Rabobank

SEB

Societe Generale

Stichting Mars Pensioenfonds

Swiss Re

SZ Finance

Tikehau

TP ICAP

Tradeweb

Van Lanschot Kempen

Vistra

Vitruvian Partners

Work highlights

  • Representing NN Group in litigation matters relating to the alleged mis-selling of unit-linked insurance policies.
  • Assisted Monument Re with the acquisition of four financial institutions in the Netherlands.
  • Advising fintech startup Dyme on obtaining a licence under the revised Payment Services Directive (PSD2).

Allen & Overy LLP

The 'fast and knowledgeable' team at Allen & Overy LLP attracts clients including financial institutions, national governments and well known blue-chip companies for strategic regulatory work. The practice makes full use of the firm's global footprint to assist with cross-border matters, including portfolio transfers and restructurings of international insurance and banking groups. The practice was strengthened by the return of counsel Joost Elsenburg from ABN Amro; he brings with him a wealth of experience with the Dutch Financial Markets Authority, and focuses on assisting with MiFID II implementation. Other core team members are Gerard KasteleinEllen Cramer-de Jong, who is 'creative in solving issues', and Brechje van der Velden.

Testimonials

Fast and knowledgeable.

Victor de Seriere has broad knowledge and a sound approach.

Academic excellence combined with practical solutions. Best team/firm in the Netherlands.

Highly knowledgeable. Approachable. Expertise.

The team at A&O is always pro-active and pragmatic in aligning our commercial interests in compliance with the ever-changing financial legal landscape.

Ellen Cramer-de Jong stands out in truly understanding our business and is creative in solving issues arising from (new) legislation.

Key clients

ING Bank

Dutch Finance Ministry

Dutch Central Bank

EurCCP

Saxo Bank

Reinsurance Group America

Anbang Insurance Group

Ageas

MUFG Bank

NIBC Bank

Nationale Nederlanden

Norinchukin

Allianz Benelux

Aegon

VIVAT

Van Lanschot Kempen

De Bijenkorf

Rabobank

UBS

BNP Paribas

ABN AMRO

Annexum

Work highlights

  • Advised Allianz on the regulatory aspects of the cross-border merger between Allianz Benelux and Allianz Nederland Levensverzekering.
  • Assisted ABN Amro Clearing Bank with a multi-jurisdictional survey assessing the regulatory landscape for providing cross-border banking services, investment services and clearing and settlement services.
  • Advised Amerborgh Financial Services on the sale of Robein Leven, a closed life insurer based in the Netherlands, and its subsidiaries, to Monument Re.

Baker McKenzie

Baker McKenzie's 'responsive and pragmatic' team advises major international clients, and is involved particularly in the growing fintech industry, assisting financial institutions, technology incubators and start-ups across a broad range of sub-sectors, including crowdfunding, e-payment platforms, and mobile wallets. Other work includes advising on acquisitions of licensed financial institutions and of asset portfolios, in co-operation with colleagues from the corporate practice, assisting with anti-money laundering matters, and resolving Brexit-related queries. Practice head Corrine Schott 'is a very impressive and inspiring financial services regulatory lawyer' who is 'easy to deal with and very responsive'. 

Practice head(s):

Corinne Schot

Testimonials

Very quick, responsive and pragmatic.

Corinne Schot is very knowledgeable, especially in the field of financial derivatives, easy to deal with and very responsive.

Corinne is a very impressive and inspiring financial services regulatory lawyer with whom I briefly had the opportunity to work together on a standalone transaction over an 11 month period.

Excellent industry and commercial knowledge.

Philippe Steffens and Richte van Ginneken.

Key clients

Chesnara Plc.

Work highlights

  • Advised Equinix on regulatory considerations relating to the creation of a new $1bn Dutch joint venture with GIC to develop and operate hyperscale data centres in Europe.

Clifford Chance

A wide variety of national and global financial institutions, including banks, investment firms, asset and investment managers, and payments service providers, make up the client base at Clifford Chance. Clients benefit from the team's extensive experience of working on multi-jurisdictional regulatory matters, addressing all types of issues arising with new regulation such as Payment Services Directive (PSD2) and MiFID II. Frank Graaf is the key contact for advice on market infrastructure. Other notable team members are practice head Jurgen van der MeerBas Boris Visser, whose specialities include advising supervisory authorities on the implementation and execution of recovery and resolution frameworks, and senior counsel Marian Scheele.

Practice head(s):

Jurgen van der Meer

Testimonials

This team has lawyers who understand Dutch law and are experienced in representing financial institutions.

Key clients

ING

Rabobank

ABN AMRO

Adyen

TenCent

CACEIS Bank

LeasePlan

Morgan Stanley

Work highlights

  • Assisted Safened with obtaining its PSD2 license from the Dutch Central Bank in the Netherlands.
  • Advised MarketAxess on its Brexit-driven relocation to Amsterdam, from where it will run its Multilateral Trading Facility and Data Reporting Service Provider.
  • Advised ABN Amro on its successful restructuring of business divisions ABN Amro Lease and ABN Amro Commercial Finance into one division with the name ABN Amro Asset Based Finance.

Finnius

Boutique firm Finnius offers a 'personal touch' as well as 'very thorough and specific knowledge'. The 'efficient' team is active in both advisory and litigious matters; its expertise in the latter was further reinforced by the arrival of Guido Roth from Jones Day. In recent highlights, Bart Bierman led a team that advised four globally active Dutch banks on the regulatory and business impact and implementation of the new EU Payment Services Directive. Bierman is the key contact for financial regulatory rules impacting an institution’s internal organisation, capital and governance. Casper Riekerk is also recommended. Associate Eleonore Sijmons is another key member of the team. Pien Kerckhaert departed to Dentons in 2020.

Testimonials

We learned about Finnius when our firm had some issues with one of the State supervisory authorities in the Netherlands a couple of years ago. The Finnius team was able to support us in this to our full satisfaction. We have worked with Finnius for almost 3 years now and we appreciate very much their professionalism, their readiness for action also in the very short term and their helpfulness.

We received excellent services from Finnius’ partner Casper Riekerk. The huge number of new compliance and regulatory legislation in The Netherlands has made the business environment of the financial and corporate services industry in The Netherlands nowadays very complex and difficult to operate in. It is not only about the technical knowledge of the regulatory and compliance law, but it is even more about choosing the right strategy on how to approach the State supervisory authority in order to get the best possible results for the client. This is what makes Finnius different from their competitors. The performance of the Finnius team exceeded our expectations by far!

Very knowledgeable, efficient and very able to come up with solutions considering all the relevant aspects.

Rosemarijn Labeur: excellent sharp lawyer, efficient, understands the broader business perspective and combines that with a sharp strategic insight, including all the political sensitivities.

Finnius is pro-active, and informs our firm in matters of upcoming new legislation and/or cases that could be of interest to our firm.

Personal touch. Technical and in-depth knowledge translated into easy and understandable language. Well acquainted with the professional environment my firm works in.

Very thorough and specific knowledge about the Dutch financial supervisors (AFM and DNB) and financial sector legislation and compliance.

Thorough knowledge, pleasant interaction, very good writing skills.

Key clients

Triodos Bank N.V.

Obam N.V.

Lynx B.V.

De Persgroep Nederland/Independer

InsingerGillisen Bankiers N.V.

Mastercard Europe SA/NV

Euronext N.V.

Nederlandse Waterschapsbank N.V.

Aegon N.V.

Mizuho Bank Europe N.V.

Stater Nederland N.V.

InvoiceFinance B.V.

Credit Europe Bank N.V.

CCV Group B.V.

PGB Pensioendiensten B.V.

Tele 2 Finance B.V.

Credit Agricole Consumer Finance B.V.

Bunq B.V.

Dutch Gift Card Association (Branchevereniging Cadeaukaarten Nederland)

Hanzevast

Nederlandse Financierings-Maatschappij voor Ontwikkelingslangden N.V. (FMO Bank)

Work highlights

  • Assisting Symbiotics Netherlands with obtaining its licence as an investment firm in the Netherlands.
  • Representing Today’s Tomorrow in continuing litigation and negotiation regarding the decision of the Netherlands Authority for the Financial Markets to revoke the client’s licence in 2016.
  • Advised four globally active Dutch banks on the regulatory and business impact and implementation of the new EU Payment Services Directive.

Loyens & Loeff

Loyens & Loeff takes on a range of advisory work, including assisting with the regulatory issues surrounding transactions,including acquisitions and share sales, and advising on regulations regarding the supervision of financial markets. Clients include investment funds, pension funds and insurers. The key contacts are Kitty Lieverse and Martijn Schoonewille.

Norton Rose Fulbright

Norton Rose Fulbright's 'strong working relationship with the regulators' makes it a popular choice for clients seeking assistance in their dealings with regulators such as the Dutch Authority for the Financial Markets. The team also provides 'sound and workable advice' on post-Brexit ramifications, illustrated by its advice to Markel Limited on the consequences of Brexit for their insurance policies and clients, and market infrastructure matters. Practice head Floortje Nagelkerke's 'excellent experience' means that she receives instruction from a range of notable clients, including MoneyGram, Refinitiv (previously Thomson Reuters), and ING. Associate Nikolai de Koning is another key contact.

Practice head(s):

Floortje Nagelkerke

Testimonials

The Norton Rose team in Amsterdam has a high level of knowledge and experience and a strong working relationship with the regulators. They respond promptly and professionally. I would not hesitate to recommend them to other firms and have done so on several occasions.

We primarily work with Floortje Nagelkerke (partner) and Nikolai de Koning (associate). They have excellent experience and good relationships with the regulators. They provide sound and workable advice. They kept us well-informed as our matters progressed. They are flexible in terms of allowing us (the client) to do the work when appropriate and filling in the gaps when we need them to do so. We also appreciate from an economic perspective that much of the work is done by Nikolai, with Floortje getting involved as appropriate. We enjoy working with them.

Knowledge of the European capital markets and what is key to a business operating in a fast changing, highly regulated environment. Keen sense of the complexities of multiple jurisdictions and being able to keep an eye on the ball and not lose sight of the goal.

Provide pragmatic and practical advice relevant to daily operations whilst having the ability to switch effortlessly to a strategy adviser in consideration of the future outlook, dependent on the client’s needs. Easy and enjoyable working relationship.

Key clients

ABN AMRO Bank (Clearing) N.V.

Adyen

AFS

AmTrust Financial Services, Inc.

BUX

Deliveroo

European Central Counterparty N.V

Gelber Group

ING Bank N.V.

Jane Street Financial

Markel Limited

Northern Trust

NPEX

Quantlab Europe B.V.

Rabobank

SGG Depositary B.V.

TMF Depositary N.V.

Toronto Dominion Bank

Work highlights

  • Assisted BUX with its licence application as an investment firm to the Dutch regulator, the AFM.
  • Advising Markel Limited on the consequences of Brexit for their insurance policies and clients.
  • Provide Euroclear with a monthly regulatory updater, in which all regulatory developments are included, as well as a legal hotline.

Simmons & Simmons

Advising asset management companies on their relationships with UK dealers post-Brexit is the particular speciality of the team at Simmons & Simmons, where clients include Aegon, APG and Actiam. The firm also advises notable Dutch banks, among them Rabobank, BNG Bank, and NWB Bank, on a variety of other regulatory matters, including funds documentation, and the Payments Services Directive (PSD2). Rezah Stegeman leads the team, supported by associate Aron BerketPieter van Uchelen left the firm to join Florent.

Practice head(s):

Rezah Stegeman

Key clients

PGIM

(DWS) Deutsche Asset Management

Lazard

Baillie Gifford

Rabobank

BNG Bank

NN Bank

APG

Aegon

MN

Robeco

Work highlights

  • Advised Achmea Investment Management on its relationship with UK dealers going forward after Brexit.
  • Assisted DWS (Deutsche Asset Management) with its funds documentation.
  • Advised MUFG Bank on matters relating to the Payments Services Directive in multiple European jurisdictions.

Dentons

Practice head Marcel Janssen and his team at  Dentons were joined in June 2019 by Jacqueline Bell, who is able to draw on her previous in-house experience with ABN Amro Bank, Dutch development bank FMO and specialist investment fund platform IPF Partners. Work undertaken by the firm includes providing compliance advice, assisting with anti-money laundering and MiFID II implementation, and relocating financial services companies. Clients include Dutch and international banks, and transport, energy, and fintech companies. Jeroen den Hamer left the firm in 2019, and in 2020, Arno Voerman and Pien Kerckhaert joined from Van Doorne and Finnius, respectively.

Practice head(s):

Marcel Janssen

Work highlights

  • Advised a large Canadian automotive supplier on implementing an employee participation plan, particularly with respect to the regulatory aspects of implementing a Dutch law foundation and the custody of securities.
  • Assisted PayPal with a number of financial regulatory issues, including anti-money laundering and privacy related requirements.
  • Assisted Whirl, a crowdfunding platform based on the Ethereum blockchain, with setting up a donation-based crowdfunding platform.

DLA Piper

Paul Hopman's team at DLA Piper advises on the full gamut of non-contentious regulatory advice, including assisting with market access and anti-money laundering, conduct supervision, and prudential supervision. Clients include national and foreign insurance companies, payment service providers, investment fund managers, issuers and other financial services providers, as well as companies with a different core business including Tesla, ADP and Lufthansa. The practice also has particular expertise in advising on the regulatory aspects of M&A, both nationally and at a cross-border level.

Practice head(s):

Paul Hopman

Key clients

Rabobank

ING Bank

Enel Insurance

Nederlandse Financieringsmaatschappij voor Ontwikkelingslanden (FMO)

Natwest

Knab

Tesla

MoneyCorp

Demir Halkbank

NN Bank

Oyens & Van Eeghen

Work highlights

  • Advising ING Bank on regulations including PSD2, the IDD, and the AMLD, as well as national rules, affecting its open banking initiative app, Yolt.
  • Assisting a global e-commerce services provider with obtaining a licence to pursue the business of payment services provision.
  • Advising Rabobank on the impact of a financial regulator’s qualification of the definitions of a payment account, payment services, and e-money.

Hart advocaten N.V.

Boutique firm Hart advocaten N.V. handles a range of regulatory and litigious matters. The practice is able to 'understand the daily practice of the client, as well as the relevant legislation' and uses its 'knowledgeable and practical approach' to advise banks, insurance companies, trust companies, pension funds, and investment institutions. Frank ‘t Hart, who heads the practice jointly with Laura Stortelder, is 'an excellent sparring partner' who 'feels what the client wants and needs'. Marieke Heltzel left the firm in June 2019.

Testimonials

In-depth knowledge of all regulatory matters concerning the finance industry in the Netherlands. Boutique firm that easily equals large domestic and international firms in its areas of expertise.

The team vibrates with the strength and energy to defend your rights and win your case. They are strong with putting all the details into a defence of your case which gives you back your confidence even in the most difficult situations.

The team works very well together. Frank ‘t Hart, being the head of the practice and the expert, works seamlessly with his colleagues. This results in lower invoices without having to compromise on client knowledge and speed.

Frank ‘t Hart is in my opinion the expert in the Netherlands when it comes to financial regulatory matters. He has a very large knowledge from the top of his head, making him an excellent sparring partner. He feels what the client wants and needs, which results in high quality deliveries and advice.

Great client involvement, having detailed knowledge and giving practical and useful advice.

The team of Hart Advocaten is small but very effective and knowledgeable. Their strength is that they advise on the spot and they try to think further ahead about the activities of you as a client. Their advice is always to the point and pragmatic and that is what helps clients further.

Hart Advocaten has specific knowledge of financial law and knowledge of financial institutions and how they work.

Customer friendly and dedicated, hard working and focusing on the details that matter, always well prepared, easy to reach and contact. The people I have had direct contact with, besides Frank ‘t Hart, are Suzanna Rijpkema and Daira Cervera Garcia. Both are knowledgeable, are prepared to go the extra mile and are dedicated to the job, to the issue at hand and to the client.

Very efficient team, knowledgeable and practical approach.

Understand the daily practice of the client, as well as the relevant legislation, well.

Key clients

Deutsche Bank

Coöperatieve Rabobank U.A.

AEGON Nederland N.V., including Knab

Van Lanschot N.V.

Knox Coöperatief U.A.

Work highlights

  • Defending Knab, Aegon’s internet bank, against an allegation of fraud facilitation.

Lexence

The team at Lexence receives instruction from a range of clients within the financial services sector, in particular investment funds and companies, and payment services providers. Practice head  Charles Destrée frequently provides regulatory advice concerning MiFID II, the Payment Services Directive (PSD2) and the European Marke Infrastructure Regualation, as well as communicating with regulators on behalf of clients, and ensuring all documentation and internal processes are updated to satisfy the requirements of Dutch financial law. He is supported by associates Bas Zandvliet and Max de Vreede.

Practice head(s):

Charles Destrée

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

Lessors of V&D

Agro Merchants Group/Oaktree

Takeaway.com N.V.

MSREF

H2 Private equity

Linklaters

The dedicated regulatory team at Linklaters receives instruction from key global and national financial institutions and regulators, as well as private equity and audit firms, and listed corporates. The practice assists with the full range of matters, from licence applications, to supervisory investigations, to payment services regulation. Practice head Bas Jennen has particularly close links with Aruba, which he utilises in his role as adviser to the Central Bank of Aruba, which he is currently assisting with a gap analysis of the Aruban State Ordinance concerning the prevention and combating of money laundering and terrorist financing. Other core team members are Jan Jans and Leonard van den Ende.

Practice head(s):

Bas Jennen

Key clients

Julius Bear

Central Bank of Aruba (CBA) – central bank and supervisory authority

Work highlights

  • Assisted the Central Bank of Aruba with a gap analysis of the Aruban State Ordinance concerning the prevention and combating of money laundering and terrorist financing, and subsequently drafted amending legislation and related explanatory notes.
  • Advised Julius Bear on the impact of restructuring the capital requirements, the post-closing licensing needs and regulatory notification, and prior approval requirements relating to the sale of its domestic business in the Netherlands.

Orange Clover Law

The 'very knowledgeable' team at boutique firm Orange Clover Law assists a large roster of clients with their Brexit contingency planning, among them international names including DRW Trading, CTC Trading, and MVision. The practice's 'great client base' includes Credit Suisse, ICE (New York Stock Exchange), which the firm advised on the implementation of the Benchmark Regulation, and Bain Capital. The team regularly advises on regulator matters relating to AIFMD, MiFID II and the Payment Services Directive. Practice head Alex Gonzalez is 'extremely smart and knowledgeable on regulatory matters'.

Practice head(s):

Alex Gonzalez

Testimonials

Very knowledgeable team, all partners come from premium law firms and offer great quality for reasonable pricing. Great client base.

Alex Gonzalez is extremely smart and knowledgeable on regulatory matters. He deals with a significant number of MiFID II applications, many of which are related to Brexit.

Key clients

DRW Trading

Jump Trading

Headlands

CTC Trading

XR Trading

ICE (New York Stock Exchange)

Quadia

Radix

MVision

Apollo

Cinven

Bain Capital

Work highlights

  • Advising Jump Trading on setting up a trading firm in the Netherlands as part of its Brexit contingency planning.
  • Assisting Intercontinental Exchange (ICE) with the implementation of the Benchmark Regulation.
  • Advising Bain Capital on regulatory matters related to marketing certain of its investment funds to investors in the Netherlands, including assisting with registration of these funds with the AFM.

Osborne Clarke

The team at Osborne Clarke has ' a pragmatic approach' and is able to 'focus on the key issues'. A key area of expertise for the practice is assisting with regulatory licence applications, in the areas of payments, investment funds, and insurance brokerage. The team's strength in this field is strengthened by practice head Johannes de Jong's 'excellent' communication with regulators including the Netherlands Authority for the Financial Markets and the Dutch Central Bank. He is also praised for his 'exceptional understanding of the business considerations' and 'excellent in-depth knowledge of the industry'.

Practice head(s):

Johannes de Jong

Testimonials

Osborne Clarke’s regulatory practice is outstanding, thanks to its head Johannes de Jong. Both very broad and in-depth knowledge of many aspects of the regulatory framework and of the industry. Exceptional understanding of the business considerations. Exceptional price-quality ratio compared to other top-tier firms in this field.

Johannes de Jong is brilliant, and for sure the rising star of his generation. He has outstanding in-depth knowledge of not only one but of various regulatory areas (which is a very rare quality compared to most peers), and excellent in-depth knowledge of the industry. Johannes combines exceptionally broad and in-depth legal know-how with outstanding creativity and perseverance with the single purpose of getting it done, and he is a great strategist who masters that art. Excellent in contact with regulators. Very convincing, out-classing practically anyone in a non-confrontational style.

Osborne Clarke are focused on the client’s needs. Some of the people I worked with extracted the key issues from rather complex matters very well.

They speak in plain language and focus on the key issues.

Always quick and pragmatic approach!

Extremely helpful and open minded.

Key clients

iSwap Euro BV

Acquis Insurance Management BV

Oolders, Heijning & Voogelaar BV

CurrencyCloud BV

PayCheckout BV

CL Venture Partners BV

October Nederland BV

Mint Tower Capital Management BV

Brinker BV

iZettle AG

Think ETF Asset Management BV

GoPro

Work highlights

  • Successfully assisted October BV (formerly Lendix BV) with obtaining authorisation from the Dutch regulator, the AFM, to operate crowdfunding services in the Netherlands.
  • Assisted PayCheckout with obtaining a full electronic money institution license from DNB (the Dutch Central Bank).
  • Advised Brinker on its application for a licence to provide credit and credit intermediary services.

Van Benthem & Keulen

Its ability to 'translate regulations into hands-on practical advice' makes Van Benthem & Keulen's team a popular choice for banks, insurers, payment service providers, fund and asset managers, issuing companies, and financial service providers alike. The practice is valued for its anticipation of 'possible legal hurdles thrown up by financial regulation', and advises on the impact of all applicable legislation, including MiFID II and the Payment Services Directive (PSD2). Practice co-heads Frank Richel and senior associate Danielle Martens are 'subject matter experts and great sparring partners', with the former specialising particularly in the impact of financial supervisory legislation on contract law.

Practice head(s):

Frank Richel; Danielle Martens

Testimonials

The ability to translate complex legal matters into terms that decision makers (i.e. mostly legal layman) can understand.

Robert Boekhorst is my go-to person for anything regarding outsourcing. He recognises the question behind the question and will give you the advice you need in a timely and understandable manner. Nellemarie Staal assisted me a lot on KYC during her time on short term assignment with us. Frank Richel and Danielle Martens are my go to people for banking and regulatory questions. Subject matter experts and great sparring partners. Always delivered on time and always available (within reason) to elaborate on their work (and in our case to make the trip to Amsterdam to do so).

The team can translate regulations into hands-on practical advice. Besides this it also has a birds-eye view on possible legal hurdles thrown up by financial regulation.

The team really tries to be in our shoes when providing advice. It’s not merely telling us what’s in the regulation, but really providing tailor made and hands-on input and is willing to discuss when there is a difference in view, without simply pleasing the client.

Key clients

Volksbank N.V.

Triodos Bank N.V.

equensWorldline SE

Conservatrix N.V.

Scildon N.V.

Oikocredit  Ecumenical Development Co-operative Society U.A and Oikocredit International Share Foundation

Work highlights

  • Assisting Oikocredit Ecumenical Development Co-operative Society with the approval process of its 2019/2020 prospectus in relation to the ongoing issuance of shares.

Van Doorne

The team at Van Doorne is 'pragmatic, open, realistic and with a high level of expertise' and has a particular focus on ongoing regulatory obligations and enforcement within the e-money, fintech, insurance and pension sectors. The specialisation is illustrated by recent work highlights, which includes assisting a major pension fund with a collective transfer of pension entitlements and advising a Dutch bank on its acquisition of a minority stake in a fintech start-up. Friso Foppes is the key contact. Former practice head Arno Voerman departed to Dentons in 2020. 

Testimonials

Pragmatic, open, realistic and with a high level of expertise regarding regulatory matters.

Very pragmatic hands-on approach. Expert knowledge on PSD2. Feels as though the firm is part of a project team to get things done where other firms are more “distant”.

Very knowledgeable about the law and how to put it into practice.

Work highlights

  • Assisting a major pension fund with a collective transfer of pension entitlements to an alternative pension fund.
  • Advised a Dutch bank on its acquisition of a minority stake in a fintech start-up.
  • Assisted the founders of a supplier of payment technology with the sale of the company to another company involved in the digital payments market.