Significant institutions must use the Prospective Appointment Notification Form for Banks that qualify as Significant Institution (under the SSM Regulation). DNB will process the application, advise the ECB and agree the next steps, while observing national rules on timelines and procedures.
In consultation with the relevant ECB divisions and the Joint Supervisory Team, DNB will prepare a draft decision. This is then put to the ECB for decision-making.
The ECB’s decision will either be communicated by DNB’s Expert Centre on Fit and Proper Testing or by the ECB itself.
Impact of ECB involvement and further implementation of European procedures
ECB involvement may mean that the decision-making process is extended and that, if nominees are invited to an interview, ECB officers may sit in. These meetings will typically be held in the Netherlands but may take place in Frankfurt if parties agree. These interviews will, in principle, be conducted in English.
The ECB is strengthening its screening processes and procedures, and is expected to communicate further information in the course of 2016.
These types of institution will submit their applications to DNB, with DNB also making the final decision. In special circumstances the ECB may be involved in the decision-making process.
Second-tier senior officers
Screening of applications for second-tier senior officers at both significant and non-significant banks will be handled by DNB.