AFM Publications

Enforcement actions by criminal and supervisory authorities are settled regularly.

The revised European Market Infrastructure Regulation (EMIR 3), which came into effect on 24 December 2024, aims to enhance the transparency, stability, and safety of the financial markets within the EU.

The Court of Justice of the European Union has delivered a landmark judgment clarifying whether businesses that receive, hold and transfer client funds are providing regulated payment services under PSD2.

The Dutch Central Bank (DNB) has introduced a revised enforcement policy that imposes administrative fines and penalty payment orders on designated reporting entities that repeatedly fail to submit statistical reports on time. Captive financial institutions, fund managers, securitisation vehicles, and certain holding and royalty companies must now ensure their governance frameworks support timely compliance...

Syndicated financing allows borrowers to access capital beyond what a single lender can provide by distributing risk across multiple parties. In the Netherlands, a parallel debt mechanism addresses legal uncertainties around security interests, enabling a security agent to hold collateral on behalf of all lenders while maintaining clear enforcement rights.

Gone are the days when having some office space or a couple of employees in a jurisdiction counted as economic substance for your fund structure.

In connection with investigations into possible rate fixing by banks, the European Commission has amended its proposals for regulation on insider trading and market manipulation.

On July 7th, 2020, the New York State Department of Financial Services fined Deutsche Bank USD 150 million for its "significant compliance failures" in its relationship with Jeffrey Epstein...

Crypto M&A transactions demand comprehensive due diligence beyond traditional legal and financial analysis, with regulatory compliance, tax reporting, governance, cybersecurity and licensing requirements emerging as critical value drivers. This leaflet examines ten essential areas that buyers, investors and crypto businesses must evaluate when preparing for or executing crypto M&A transactions in Europe, drawing on integrated law and tax expertise.

The Dutch Central Bank (DNB) has introduced a new enforcement policy that significantly tightens its approach to capital and liquidity requirements.

In June 2014, Transparency International published new guidance on countering small bribes, including "facilitation payments".

This month, a combined settlement was reached with one of China's biggest manufacturers of telecom equipment, Zhongxing Telecommunications Ltd. (ZTE).

A critical deadline looms for European issuers with securities traded outside the EU, as a key grandfathering clause under the CSD Regulation expires on 17 January 2027. Without timely regulatory action, third-country central securities depositories like DTC may be forced to suspend services to affected EU issuers, potentially disrupting trading in their equity and debt instruments on international markets.

Environmental, social and governance (ESG) initiatives are now critical drivers for companies – there is no getting around it.

Yahoo suffered three significant data breaches affecting more than 1.7 billion users between 2012 and 2014.

Enforcement actions by criminal and supervisory authorities are settled regularly.

A critical deadline looms for European issuers with securities traded outside the EU, as a key grandfathering clause under the CSD Regulation expires on 17 January 2027. Without timely regulatory action, third-country central securities depositories like DTC may be forced to suspend services to affected EU issuers, potentially disrupting trading in their equity and debt instruments on international markets.

The Netherlands is poised to grant its competition authority unprecedented power to scrutinize mergers that fall below traditional notification thresholds, targeting potentially harmful transactions such as roll-up strategies and killer acquisitions. While the Dutch House of Representatives has approved the bill despite criticism from the Council of State, the legislation introduces an asymmetric threshold system and raises standard notification requirements, fundamentally reshaping the country's merger con

RBS and Weatherford have reached major settlements with US authorities to resolve alleged violations of US sanctions and anti-bribery laws.

The European Court of Justice has handed down its eagerly awaited decision in ACI Adam v Stichting De Thuiskopie.