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ARTICLE · 06 JANUARY 2017

DNB And The AFM Create Regulatory Sandbox

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

De Brauw Blackstone Westbroek

Our clients are increasingly operating in South-East Asia and require legal assistance in the...

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The Dutch Central Bank (DNB) and the Netherlands Authority for the Financial Markets (the AFM) have published a paper describing the next steps in facilitating an adequate supervisory approach...

NetherlandsFinance and Banking
Bart Van Reeken
Bart Van Reeken
Björn Schep
Björn Schep
Christian Godlieb
Christian Godlieb
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The regulatory sandbox will be available from 1 January 2017. Innovative businesses may apply to their relevant regulator in each phase of development. Applications are treated confidentially. The regulatory sandbox will not involve any extra charges. Regular costs for authorisation and continuous supervision however do apply.

Partial authorisation

In addition to the regulatory sandbox, the regulators offer innovative businesses the possibility to apply for partial authorisation. Partial authorisation may be issued when a financial institution does not wish to engage in all operations governed by a full authorisation or is not yet able to meet all eligibility requirements for such an authorisation. Partial authorisation may be granted on a temporary basis but may also have a more permanent nature. As such, partial authorisation may be used by businesses to develop a full-fledged financial institution step by step.

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