Expertise/Financial Markets
& Regulation
Financial Markets & Regulation
Financial Services Industry experts
... advising financial firms on complex matters driven or affected by the supervision and regulation of the financial services industry. We:
- assist large national and international groups of banks, insurance companies, investment firms and other financial firms involved in complex M&A and capital markets transactions;
- advise on securities offering rules, the listing and trading of financial instruments, market abuse issues, and financial market infrastructures as experts in market regulation; and
- provide expertise for financial firms on all elements of licensing; governance and the structure of business operations; the structuring of financial services and products; regulatory capital issues and compliance with other rules of prudential supervision; and recovery and resolution.
Our experts are actively involved in legislative processes and, as lecturers and speakers, also contribute to the academic development of the supervision and regulation of the wider financial services industry.
Our AML practice group provide specialist advice on Anti-Money Laundering (AML) legislation, the implementation of AML in policies and agreements and on dealings with regulators.
Recent Matters
7 September 2021
Deutsche Telekom and Tele2 sell T-Mobile Netherlands to a consortium of Apax and Warburg Pincus for an EV of EUR 5.1 billion
De Brauw
advised Deutsche Telekom AG on the sale by Deutsche Telekom and Tele2 of
T-Mobile Netherlands to an entity jointly controlled by funds advised by Apax
Partners LLP and Warburg Pincus LLC for an enterprise value of EUR 5.1 billion.
18 August 2021NN Group NV sells NN Investment Partners to Goldman Sachs for EUR 1.7 billion
De Brauw advised NN Group on the sale of its asset manager NN Investment Partners (NN IP) to Goldman Sachs Group, Inc. for total cash proceeds of EUR 1.7 billion. As part of the agreement, NN Group and Goldman Sachs Asset Management will enter into a ten-year strategic partnership under which the combined company will continue to provide asset management services to NN Group. The combination with Goldman Sachs gives NN IP a broader platform to accelerate its growth and further improve the offering and service to its clients. It will also allow NN Group to continue its successful cooperation with NN IP and to benefit from the strengths and complementary product propositions of Goldman Sachs.
18 August 2021Minority investment by Bridgepoint in ACT, valuing ACT at over $1 Billion
ACT, the
leading provider of custom market-based solutions for reducing carbon
footprints, today announced a minority investment from Bridgepoint, the quoted
private assets growth investor. Bridgepoint’s investment moves ACT to a new
level of leadership in the environmental markets, valuing the company at more
than USD 1 billion.
As part of the transaction, Bridgepoint is buying out exiting investor Three
Hills Capital Partners.
“With a good knowledge base, the team is composed such that on any subject service can be delivered instantly. Integration of law, regulation, network and governance is a strength.”
Insights
22 July 2021
EBA and ESMA publish new fit and proper AML knowledge guidance for the management level
Credit institutions and investments firms will need to meet new fit and proper AML knowledge requirements as of 31 December 2021. The European Banking Authority (EBA) and the European Securities and Markets Authority (ESMA) recently published joint guidelines on how these entities should assess the suitability of management board members and key function holders in accordance with the Capital Requirements Directive (CRD IV) and the Markets in Financial Instruments Directive (MiFID II). The revised guidelines provide that the suitability assessment should at least address whether the person in the management board who is responsible for AML implementation, has the required knowledge, experience and skills. The joint guidelines also contain a suitability requirement for the collective management body.
29 June 20213% UBO registration threshold proposed for trusts and funds for joint account
An implementing decree on the UBO registration for trusts and funds for joint account (fondsen voor gemene rekening) opened for consultation on 29 June 2021. The consultation period ends on 9 August 2021. This UBO register will be kept by the Chamber of Commerce in the Netherlands.
17 February 2021Signed charter needed for foreign in-house counsel to have legal privilege
Can in-house counsel admitted to a non-Dutch bar invoke legal privilege in the Netherlands? The Rotterdam District Court has ruled that these "foreign in-house counsel'' can – if they have that right under the jurisdiction where they work. In addition, if they work in the Netherlands, they must also meet specific criteria set by the Netherlands Bar. According to the court, foreign in-house counsel practising in the Netherlands should be treated the same as Dutch in-house counsel. The latter are required to sign a professional charter – a document that guarantees their independence and is signed by both employer and in-house counsel – in order to invoke legal privilege.
Although the ruling is not final, it is important to consider its implications. To err on the side of caution, we recommend that clients who employ foreign in-house counsel make sure that their charters are in order and signed and record that the standards required by this charter have thus far been upheld.
