Key Benefits:
Law of 25 June 2014 amending the Financial Supervision Act and any other laws implementing Directive 2013 /36/EU of the European Parliament and of the Council of 26 June 2013 on access to the business of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002/87/EC and repealing Directives 2006 /48/EC and 2006 /49/EC (PbEU 2013, L 176), and implementing Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (PbEU 2013, L 176) (Implement Law and Capital Requirements Regulation)
We Willem-Alexander, at the grace of God, King of the Netherlands, Prince of Orange-Nassau, etc. etc. etc.
All of them, who will see or hear these, saluut! do know:
In this regard, we have considered that it is necessary to lay down rules for the implementation of Directive 2013/36 /EU of the European Parliament and of the Council of 26 June 2013 on access to the holding of credit institutions and the prudential supervision of credit institutions and investment firms, amending Directive 2002 /87/EC and to the withdrawal of the Directives 2006 /48/EC and 2006 /49/EC (PbEU 2013, L 176) and in implementation of Regulation (EU) No No of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (PbEU 2013, L 176);
It is true that we, the Department of Consultative Affairs of the Council of State, and with the mean consultations of the States-General, have found and understand the same as We approve and understand:
1 An authorisation as referred to in Article 2:11 of the Financial Supervision Act which is held by a person who, in the period of six months prior to the date of entry into force of the Article I, part DD , no credit institution was as referred to in Article 4 of Regulation (EU) No 575/2013 of the European Parliament and of the Council of 26 June 2013 on prudential requirements for credit institutions and investment firms and amending Regulation (EU) No 648/2012 (PbEU 2013, L 176), from that date, is considered to be an authorisation as specified in Article 3:4, 1st paragraph, of the Financial Supervision Act , provided that the holder of the authorisation during that period has carried out the activities referred to in the latter Article. If this condition is not met, the supervisor shall withdraw the licence after the specified date.
2 Banks and investment firms referred to in Article 3:17a of the Law on Financial Supervision apply the provisions of the second and third paragraphs of that Article to the allocation of the variable part of the remuneration on the basis of the year 2014, whether or not the obligation arising from the award has been entered into prior to the the entry into force of that Article.
This law is cited as: Implementation Law Directive and Regulation Capital Requirements.
This Law shall enter into force on a date to be determined by Royal Decree, which may be adopted in a different way for the various articles or parts of such articles.
Burdens and orders that it will be placed in the Official Gazette and that all ministries, authorities, colleges and public servants who so far as to do so will keep their hands on the precise execution.
Entry
Wassenaar, 25 June 2014
William-Alexander
The Minister of Finance,
J.R.V.A. Dijsselbloem
The Minister for Security and Justice,
I. W. Opstelten
Published on the seventh of July 2014The Minister for Security and Justice,
I. W. Opstelten
