In the context of collecting and assessing information, DNB has power to call for information.
- DNB may require a financial undertaking to provide any information it needs; this includes inspecting business information and documents and carrying out on-site investigations (Section 1:72-1:74 Wft).
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.
- DNB can issue a direction to a financial undertaking 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 undertaking 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, solvency or liquidity of that financial undertaking.
- DNB may appoint a receiver for a financial undertaking, which means that bodies within that financial undertaking can only exercise their powers after obtaining the receiver’s approval (Section 1:76 Wft). The situations in which DNB can decide to do this correspond to the cases in which DNB can issue a direction as set out above.
- 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 financial undertaking.
- 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).
In using these tools, DNB shall also take the seriousness of the situation into account in making choices and deciding on specific actions.
The Dutch Central Bank can, where appropriate, anonymously approach and query parties who offer financial services and are suspected of providing these services illegally.