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ARTICLE · 27 FEBRUARY 2017

European Authorities Consult On Suitability Test Guidance – Our Perspective

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

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Suitability tests for directors of financial institutions are a hot topic in the Netherlands.

NetherlandsFinance and Banking
Mariken Van Loopik
Mariken Van Loopik
Ernest Swantee
Ernest Swantee
Jessica Schouten
Jessica Schouten
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Suitability tests for directors of financial institutions are a hot topic in the Netherlands. Both the EBA/ESMA and the ECB have published new draft guidelines for these tests at banks and investment firms. As we regularly help prospective managing and supervisory directors to prepare for the assessment, we have contributed to the public consultation on the draft guidance. We hope that our suggestions will help to improve the process.

In October 2016, the EBA and ESMA published draft joint guidelines on suitability tests for both banks and investment firms under CRD IV and MiFID II. The draft document deals with the assessment of members of the management body (both executive and non-executive directors) and individuals in key positions. Supervisory authorities in member states should ensure that banks, mixed financial holding companies, financial holding companies and CRD IV-investment firms comply with these guidelines.

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