A Bill will enter into force on 1 July 2012 amending the current rules regarding the expertise required of day-to-day policy makers and supervisory board members at financial undertakings. The existing expertise test will be replaced by a wider suitability test.
In addition, the rules concerning cooperation between the Dutch Central Bank (DNB) and the Netherlands Authority for the Financial Markets (AFM) in the granting of licences will change. If one of the two supervisors is uncertain about the integrity or suitability of a managing or supervisory director, the negative view will prevail, even if this is not the licensing supervisor's view.
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