Short Reads

New financial supervision rules

New financial supervision rules

29.07.2016 NL law

The following legislation became effective on or after 1 July 2016: Market Abuse Regulation, Dutch Implementation Act (Mortgage Credit Directive), Securities Financing Transactions Regulation.

Market Abuse Regulation

The EU Market Abuse Regulation (596/2014) is effective as of 3 July 2016. Please see our previous news letters on this subject here and here.

Mortgage Credit Directive for a harmonised European-wide mortgage credit market with a high level of consumer protection

The Dutch Act and Decree implementing the EU Mortgage Credit Directive (2014/17/EU) entered into force on 14 July 2016. The new rules protect consumers against the risks involved in taking out secured housing loans and provide for increased transparency, disclosure of the annual costs, ensuring proper conduct of business, and certain quality standards of services relating to mortgage credit. The changes are implemented in the Dutch Financial Supervision Act (Wet op het financieel toezicht) and the Dutch Civil Code (Burgerlijk Wetboek).

Reporting and transparency of securities financing transactions

On 12 January 2016, the Securities Financing Transactions Regulation (2015/2365/EU) entered into force in stages. The regulation aims to create greater transparency with respect to securities financing transactions. The regulation also lays down rules for the reuse of collateral by clients. Please see our previous newsletter for more detailed information here. On 13 July 2016, the section "re-lending activities" entered into force. This section regulates the reusage of collateral provided by clients by financial institutions.

Source: Banking and Finance Update July 2016

Team

Related news

23.10.2017 NL law
OTC-Derivaten en de ISDA Master Agreement - (hoe) werkt het naar Nederlands recht? (deel 1)

Articles - De meeste over-the-counter (OTC) derivaten worden aangegaan onder een ISDA Master Agreement. Eén van de voornaamste doelen van de Master Agreement is de beheersing van het kredietrisico dat partijen over en weer op elkaar lopen. De bepalingen betreffende vervroegde beëindiging en afwikkeling van transacties behoren tot de kernbepalingen van de Master Agreement.

Read more

04.10.2017 EU law
Stibbe attends IBA’s annual conference in Sydney

Conference - The International Bar Association (IBA) organises its Annual Conference from 8-13 October. This year’s edition takes place in Sydney, Australia’s leading global city. A team from Stibbe’s offices worldwide attends this prestigious event for international lawyers.

Read more

Our website uses cookies: third party analytics cookies to best adapt our website to your needs & cookies to enable social media functionalities. For more information on the use of cookies, please check our Privacy and Cookie Policy. Please note that you can change your cookie opt-ins at any time via your browser settings.

Privacy and Cookie Policy