When you dress a lizard in a suit you will have trouble with his tail! A seminar on Financial Institutions and their Supervisor was held in Aruba on Wednesday April 20, 2016. The seminar was organized by the Aruba Bankers’ Association & Insurance Association of Aruba. I was one of the keynote speakers and delivered… Continue reading SUPERVISORY DIRECTORS ARE A TYPE OF BAYWATCHERS
Tag: financial institutions
CREDIT INSTITUTIONS IN THE BES ISLANDS
Strictly regulated With effect from 1 July 2012, the Financial Markets (BES Islands) Act [Wet financiële markten BES; “Wfm BES”] came into force, with the associated subordinate regulations. The Wfm BES applies to financial institutions in the BES islands (Bonaire, St. Eustatius and Saba). There are several categories of financial institutions, including credit institutions (banks).… Continue reading CREDIT INSTITUTIONS IN THE BES ISLANDS
REGULATORY LEGISLATION IN CURACAO
General requirements on the business operation Regulatory legislation in Curacao does not distinguish between different kinds of products, such as for instance hedge funds, but is of a more general nature. The regulatory legislation of Curacao applicable to financial institutions is divided into four categories being: credit institutions, institutional investors, investment institutions & administrators and… Continue reading REGULATORY LEGISLATION IN CURACAO
BES LAW DEVELOPMENTS
Bonaire, St. Eustatius and Saba (BES) Within a couple of years, the BES Islands, as public entities, will be part of the country of the Netherlands in the framework of the political restructuring in the Kingdom of the Netherlands. The US dollar will be introduced as the new currency in the BES Islands. Curacao and… Continue reading BES LAW DEVELOPMENTS
DUTCH GOVERNMENT INJECTS $13 BILLION IN ING GROUP
Restoring confidence is key Recently, the Dutch government acquired all shares in the capital of the Dutch subsidiary of Fortis, i.e. Fortis Bank Nederland, including ABN AMRO Bank. Furthermore, the Dutch government has set aside $27.5 billion of capital to protect the financial institutions of the Netherlands. Although there are many banks that have enough… Continue reading DUTCH GOVERNMENT INJECTS $13 BILLION IN ING GROUP