financial institutions

Mark Rutte, January 2016
May 8 '18 11:50

Dutch banks and insurers will soon place all prominent politicians and their immediate families under stricter supervision in an effort to prevent bribery, fraud and support to terrorists. Financial institutions will receive the instruction to keep a closer eye on the Netherlands' rulers this summer, newspaper AD reports.

Any transactions that raise suspicions of, for example, money laundering or taking bribes must be immediately reported to the Financial Intelligence Unit Nederland, which falls under the National Police.

Amsterdam
Sep 13 '17 16:00

Large Japanese bank Mitsubishi UFJ Financial Group (MUFG) filed a license application to set up a new subsidiary in Amsterdam, so that the financial group can continue to serve customers in the European Union after the Brexit, the bank said in a statement.

"The new subsidiary in Amsterdam will ensure that the Group can continue to provide these services to its EU clients, even if the cross-border passport is lost as a result of Brexit," the bank noted. Currently, the EU customers are served by a subsidiary based in the United Kingdom.

Rijksmuseum
Jul 31 '17 12:20

Large Japanese bank Mitsubishi UFJ Financial Group (MUFG) chose Amsterdam to be its new base for security trading in the European Union after the Brexit. Initially the bank plans to move less than a hundred of its employees from London to Amsterdam, but more may follow, ANP reports.

MUFG currently employs about 2,100 people in the British capital. The bank also looked at other EU locations, like Paris, but Amsterdam is considered the favorite, according to the news wire.

I Amsterdam sign in rainbow colors to celebrate the 15th anniversary of marriage equality in the Netherlands, 1 Apr 2016 (Photo: @iamsterdam/Twitter)
May 15 '17 10:18

Many banks and financial institutions moving to Europe after the Brexit, are shunning Amsterdam due to the Netherlands' cap on bonuses. While the rest of the European Union capped bonuses at 100 percent of the fixed salary, the Netherlands' cap is 20 percent of the fixed salary. The banks fear losing talent to the competition, being forced to pay irresponsibly high salaries to keep employees and do not feel welcome in the Netherlands, Financieele Dagblad reports after talking to a number of companies assisting banks in their move to the EU mainland.

Jeroen_Dijsselbloem_2015_(1)
Jan 25 '17 13:05

Financial institutions who want to move their headquarters from London to Amsterdam due to the Brexit, do not have to worry about the strict Dutch bonus legislation, Minister Jeroen Dijsselbloem of Finance said to RTL Z on Wednesday. 

Jan 24 '17 16:25

Amsterdam is in talks with numerous financial firms currently based in London about relocating to the Netherlands due to Britain's decision to leave the European Union, deputy mayor Kasja Ollongren confirmed, according to The Guardian. "They [financial institutions] are all preparing themselves. They don't know exactly what they have to prepare for because the situation is unclear and it will take some time until it is more clear. Financials and others are looking at possibilities and very often Amsterdam is on the shortlist", Ollongren said, according to the newspaper.

Jan 13 '17 14:10

Banks and trust companies can do much more to prevent corruption, such as money laundering and fraud, in football, the Dutch central bank DNB concluded after investigating how financial firms deal with the risk of shady practices in football, the Volkskrant reports.

Bankruptcy
Jul 10 '15 12:09

The number of companies and institutions going bankrupt in the Netherlands, is continuing its downward trend, which started in the summer of 2013. There were 35 fewer bankruptcies in June than in May.

DELTA_LLOYD-AMSTERDAM-Dr._Murali_Mohan_Gurram_(3)
Dec 22 '14 09:09

De Nederlandsche Bank (DNB) will fine insurer Delta Lloyd a maximum of 22.8 million euro. DNB also requires that CFO Emiel Roozen leave his position by January 1st, 2016.

Jun 27 '14 11:38

Banks and insurers know the risk of corruption, especially in the form of bribery or conflict of interest but not much is done to prevent this from occurring. Corruption risks are being overlooked within the organisation, the directors and employees.

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