The Dutch government is planning to implement stricter rules for financial institutions' remuneration policies, including stricter rules on share benefits and bonuses. Representatives of the FinTech sector, which falls under 'financial institutions', are outraged by these new rules, saying that they will result in higher financial risks for the companies, unfair competition, and higher administrative costs, Financieele Dagblad reports.
Last year nearly 21 thousand data leaks were reported to the Dutch Data Protection Authority, more than double than the number of leaks reported in 2017 and three times more than were reported in 2016, ANP reports.
That does not necessarily mean that there were more leaks - the Authority can't say how many leaks went unreported. Organizations that discover a leak are obliged to report it to the privacy watchdog as soon as possible, but this does not mean everyone does so or that all leaks are discovered.
The outlook for the Netherlands economy is still positive, the International Monetary Fund said in its annual report on the Netherlands. The IMF again raised concerns about the growth of wages in the country being smaller than other countries with comparable economies. Annual wage growth in the Netherlands is around 1 percent, too little to compensate for inflation, the IMF said, NOS and ANP report.
New rules proposed by the European Commission could mean an end to the bonus cap for hundreds of Dutch investment firms, though the cap may still apply to companies large enough to be considered systematically important, such as banks and insurers, BNR reports.
A team of researchers organized by the Central Bank of the Netherlands (DNB) is going to try to hack the IT infrastructure of Dutch financial institutions. Secret test attacks will target banks, stock exchange providers, and clearing houses so that the DNB and the financial sector can improve the industry's cybersecurity, according to FD.
A fifth of Dutch companies with at least 10 employees, dealt with the consequences of a cyber attack last year, Statistics Netherlands revealed in a study on IT incidents on Monday. Companies in the financial- and energy sectors are most vulnerable to cyber attacks, according to the stats office.
On Thursday a bank employee was suspended from working as a loan officer for six months because she looked at the information of multiple customers without having business related reasons to do so. She is thereby the first banker to be punished for violating the Bankers' Oath, which was implemented in April last year, ANP reports.
Two thirds of unemployed people in the Netherlands manage to find another job within a year, according to figures from benefits agency UWV. The unemployed are benefiting from increasing job opportunities on the Dutch labor market
The strict bonus policy in the Netherlands' financial sector, which includes a limit on bonuses, seems to be effective, according to the first assessment of the policy. So far there is no negative impact on the Dutch economy, business climate and competitiveness, Minister Jeroen Dijsselbloem of Finance wrote to parliament on Tuesday
Britain's decision to leave the European Union may give Amsterdam a boost as Europe's international business center. Even in the run-up to the Brexit referendum, a number of companies decided to head to the Dutch capital, a spokesperson for Amsterdam's Economic Affairs alderman Kasja Ollongren said
Dutch central bank DNB is deeply concerned about the "profound consequences" the superlow interest rates will have on the entire financial sector, director of Supervision at DNB Jan Sijbrand said on Thursday
Dutch people find it "scary" to invest money in stock and bonds. Nearly 60 percent of Dutch see investing as gambling, according to a international survey by asset manager BlackRock among over 31 thousand people in 20 countries
Two thirds of the people who took the Banker's Oath, do not believe that they actually also have to adhere to it, according to a study among 800 bankers by Tom Loonen of the Vrije Universiteit and Mark Rutgers of the University of Amsterdam.
The FinTech sector is on fire in the Netherlands, to such an extent that Amsterdam may well be on its way to becoming the "Silicon Valley" of FinTech companies, according to Don Ginsel, chairman of financial startups trade association Holland Fintech
The top earners at the 1,000 largest companies in the Netherlands on average earn six times more than an average worker, according to calculations done by Statistics Netherlands after looking at the five top earners per company.
Minister Jeroen Dijsselbloem of Finance will reveal the plans regarding ABN Amro's IPO this morning. It is believed that the national bank will return to the stock market after summer, RTL reports.
ABN Amro and Fortis were nationalized in October 2008 for a sum of over 30 billion euros. The Dutch state has since then recovered some of that through dividends. The IPO is expected to bring in around 15 billion euros. The part that is expected to be placed on the stock market largely consists of ABN Amro's Dutch activities.
The number of full time jobs for freelancers decreased in 2014, while the number of freelancers in the Netherlands increased.
The Netherlands saw a total of 6,645 businesses go bankrupt in 2014. This constituted a 21-percent drop from 2013 which saw a record 8,376 bankruptcies across the country, according to new data released by Statistics Netherlands (CBS) on Friday.
Jordan Belfort, who became internationally famous after Leonardo DiCaprio portrayed him in the 2013 film The Wolf of Wall Street, feels that the Wall Street of the years preceding the 2008 financial crisis, is worse than the Wall Street of the eighties.
Politicians are favoring a harder line, and being stricter on the rules of bonuses for banks. In a Parliament meeting about the cabinet plan to tackle banker bonuses, ruling party, the PvdA, will demand an increase in fines for banks and insurers who dismiss the bonus ban, the Algemeen Dagblad reports.
The portion of workers who claim that they can organize their own work has dropped in the last few years, according to the Central Bureau of Statistics (CBS). Employer independence is especially low among those who have not been in their position long.