HOW THE INVESTMENT SERVICES DIRECTIVE (ISD) IS BEING IMPLEMENTED IN THE NETHERLANDS AND WHAT IS EXPECTED
| Published date | 01 January 1996 |
| Date | 01 January 1996 |
| Pages | 36-40 |
| DOI | https://doi.org/10.1108/eb024865 |
| Author | PETER BOUMA |
| Subject Matter | Accounting & finance |
HOW THE INVESTMENT SERVICES DIRECTIVE (ISD) IS
BEING IMPLEMENTED IN THE NETHERLANDS AND WHAT
IS EXPECTED
Received: 25th October, 1995
PETER BOUMA
PETER BOUMA
IS
A
SENIOR STAFF MEMBER OF THE
SECURITIES BOARD OF THE NETHERLANDS.
HE STUDIED BUSINESS, INTERNATIONAL LAW
AND INTERNATIONAL RELATIONS AT
UNIVERSITY BEFORE WORKING WITH AN
EMPLOYERS ORGANISATION AND AN
INSURANCE COMPANY. HE JOINED THE
BOARD IN 1991. HE CAN BE CONTACTED AT
THE SECURITIES BOARD OF THE
NETHERLANDS, PO BOX 11723, 1001 GS
AMSTERDAM, THE NETHERLANDS. TEL.
+
31
20 6206549,
FAX.
+31 20 6206 649.
ABSTRACT
This paper gives information and clar-
ification of the situation in the Nether-
lands concerning the implementation of
the ISD, it also
touches
upon the Capital
Adequacy Directive
(CAD).
The
paper is
based
on a
speech
given to
the Euroforum Conference 25th-26th
September,
1995. At that time
some
sub-
jects still had to be sorted out and it is
possible that in the months before 31st
December,
1995, the dale of
implementa-
tion of the ISD,
things
will
change.
The Netherlands are now in the mid-
dle of the process of implementing
the ISD and CAD in their securities
act and their regulations. The Minis-
try of Finance has drafted a new secu-
rities act, the Act on the Supervision
of Securities Trade (ASST) with the
necessary changes following the ISD
and CAD. In June 1995 the ASST was
accepted by Parliament. Now, the
ASST is being put before the Senate.
It is expected that the Senate will
give its consent in October 1995. The
ASST will establish the framework,
the regulations will fill out the
requirements.
The regulations based on the ASST
can be considered in three parts.
First of all, there will be a new Decree
on the Supervision of Securities
Trade (DSST) drafted by the Ministry
of Finance. In this Decree the
requirements for granting a licence
and licence holders are included.
36
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