In the context of collecting and assessing information, DNB has power to call for information.
DNB may require all information from a collective investment scheme and demand inspection of all business data and documents that it deems necessary for the performance of its tasks and may carry out on-site examinations (Sections 1:72 – 1:74 Wft). In principle, DNB shall not require information until the Netherlands Authority for the Financial Markets (AFM) has been requested to supply these data and it has become apparent that the AFM cannot meet this request.
DNB can also use this power in relation to other parties, where reasonably necessary for the fulfilment of its supervisory role.
In the context of guiding and intervening at a supervised financial undertaking, DNB has a number of tools available to it.
DNB can issue a direction to a collective investment scheme or its management company obliging it to adopt a certain course of conduct on specific points (Section 1:75 Wft). DNB can issue such a direction if:
either the DNB-supervised collective investment scheme or its management company fails to comply with the provisions of the Wft or related secondary legislation;
or DNB identifies signs of a development that may endanger the own funds or solvency of that collective investment scheme or its management company.
DNB may appoint a receiver for a financial undertaking (Section 1:76 Wft).
- In the event of the breach of certain provisions listed in the Wft, DNB can impose a cease and desist order (Section 1:79 Wft) or an administrative fine (Section 1:80 Wft) on a collective investment scheme or its management company.
- DNB also has certain opportunities under the Wft to make information public; this involves issuing a public warning and announcing a decision to impose an administrative fine or a cease and desist order (Sections 1:94, 1:97 and 1:99 Wft).