The EU Council published its proposals for a Single Supervisory Mechanism for banks in the Eurozone last month.

The District Court in Rotterdam recently ruled that the Authority for the Financial Markets may ask for copies of business documents by sending a letter to that effect.

The coalition agreement contains an undertaking to provide a statutory basis for a duty of care for banks.

From 2014, investment companies may no longer receive or pay commission from or to third parties.

Parties looking to conclude OTC derivatives contracts (derivatives that are traded outside regulated markets) will face many new requirements due to the recently adopted EMIR Regulation.

A brief description of the roles for the new commission which has been set up to investigate the structure of the Dutch banking sector.

The Minister of Finance has determined an amount which will be made available for the Relief scheme for life insurers in financial distress.

Managers of investment funds that exclusively manage the assets of pension funds will be subject to the rules of the AIFM Directive, to be implemented in the Netherlands in July 2013.

The Second Chamber has approved a bill introducing a temporary resolution levy.

The turmoil in financial markets also reveals concerns lawyers. Particularly those working in the field of Mergers & Acquisitions suffer from uncertainty.

The Council of the European Union has approved amendments to the Transparency Directive.

In its recent draft regulatory technical standards, the ESMA provides an overview of situations requiring a supplement to a prospectus.

In an interim judgment, the District Court of The Hague decided that a report of findings prepared by external legal counsel had to be produced to the defendants in the proceedings.

The European Commission has published proposals to strengthen rules against money laundering and terrorist financing.

The Minister of Economic Affairs has informed the Second Chamber about alternative forms of financing.

The European Central Bank will start directly supervising 150 of the Eurozone’s largest banks and be closely involved in the supervision of other banks from September 2014.

National banking supervisors in the EU are entitled to information about suspicious clients of banks that are not established in their territory but do provide financial services there from another EU country.

The Financial Markets Amendment Act 2014 is expected to take effect on 1 January 2014. It introduces a general duty of care for financial services providers, but a less extensive one than originally planned.

The US Federal Reserve and the Office of the Comptroller of the Currency have taken official enforcement actions against JP Morgan Chase.

Allianz SE has agreed to pay USD 12,396,423 to settle charges of violating the US Foreign Corrupt Practices Act.