A digital signature has the same legal effect as a hand-written signature
The Ordinance on agreements concluded electronically (‘Landsverordening overeenkomsten langs elektronische weg’) became effective on 1 January 2001.
Trade, financial services and other commercial activities are being conducted electronically at a rapidly growing rate. The Netherlands Antilles was ahead of many countries in developing legislation for [...]
Filed under: legal by Karel.Frielink
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The Alternative Electronic Stock eXchange has created a specialty exchange for sustainable (financial and social) investing, the MicroFinance Exchange MFDAQ.
The MicroFinance Exchange announced yesterday (20 May 2008) the availability for subscription of the first social enterprise to seek capital through the Exchange.
The West Africa Sustainable Economic Initiative (WASEI) is the brainchild of former Grameen Financial Officer [...]
Filed under: Uncategorized by Karel.Frielink
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Curacao considers how the US deals with compliance
Compliance is essentially about systems and procedures at corporations, banks, funds, trust offices, insurance companies and the like, to ensure that their officers and employees are aware of and take steps to comply with the relevant laws and regulations. It is also referred to as ‘regulatory compliance’. Compliance [...]
Filed under: legal by Karel.Frielink
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The ultimate recourse against a person not paying his debts
The bankruptcy order can be applied for either by the debtor or by one or more of its creditors. If the debtor is a company then, pursuant to Article 2:8 par. 4 of the Civil Code, the managing directors do not have the authority to file [...]
Filed under: legal by Karel.Frielink
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Curacao provides a favorable climate for hedge funds
Curacao, part of the Netherlands Antilles, currently provides a favorable tax, legal and regulatory climate for hedge funds. A fund vehicle can be established quickly and flexibly. Additionally, the current regulatory regime for the supervision of investment institutions and administrators and the anti-money laundering rules provide comfort for [...]
Filed under: Securities by Karel.Frielink
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If you want to read about my personal views on Hero Brinkman click here (in Dutch only).
Karel Frielink
Filed under: Uncategorized by Karel.Frielink
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Citizens versus non-citizens
According to the Netherlands Antilles Ordinance on the Establishment of Businesses (‘Landsverordening betreffende vestiging van ondernemingen’, PB 1946 nr. 43) a license is required to establish a company (‘vestigingsvergunning’). A further license is required to operate one as an individual director if one is not a citizen of the Netherlands Antilles (‘directievergunning’).
According to [...]
Filed under: legal by Karel.Frielink
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Filing MOT report no blanket protection
A provider of financial services, e.g. a bank, has the obligation under Section 11 of the MOT (National Ordinance Penalization Money Laundering) to report to the Financial Intelligence Unit (FIU), without delay, any unusual transaction made or proposed. Unusual transactions are described in the Ministerial Decree Indicators Unusual Transactions.
Suspected money-laundering [...]
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