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ARTICLE · 19 SEPTEMBER 2012

Further Restraints On Executive Compensation

Kennedy van der Laan
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We have previously written in this newsletter about the Regulation on Restrained Compensation Policies Dutch Financial Supervision Act 2011 ("Wft") of the Dutch Central Bank ("DNB") that entered into force on 1 January 2011.

NetherlandsCorporate/Commercial Law
Floortje Van Buchem
Floortje Van Buchem

Compensation Policy in the Financial Supervision Act

We have previously written in this newsletter about the Regulation on Restrained Compensation Policies Dutch Financial Supervision Act 2011 ("Wft") of the Dutch Central Bank ("DNB") that entered into force on 1 January 2011. Starting from 1 January 2012, DNB's powers of enforcement in the field of compensation policy are also enshrined in the Wft. Implementing Directive 2010/76 (Capital Requirement Directive III), the "Act amending the Wft to implement the amended and revised Banks Directive and the amended and revised Capital Adequacy Directive" incorporates DNB's powers of enforcement in respect of compensation policies into Section 3:111a under f and g of the Wft. The new Act provides that if a bank or investment firm fails to meet the requirements for its business operations, liquidity or regulatory capital, the DNB may dictate that:

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