On 7 March 2017, one year after the implementation of the Senior Managers and Certification Regime (SM&CR) which was introduced to improve accountability in the financial services sector, two further requirements have come into effect: The regulatory reference requirements; and the rolling out of the Conduct Rules to a wider range of employees.
Regulatory references
Dutch Financial Undertakings (Remuneration Policy) Act
A bill in respect of remuneration in the Dutch financial sector is currently being debated in the senate: the Dutch Financial Undertakings (Remuneration Policy) Act (Wet beloningsbeleid financiële ondernemingen; the Act).
The proposed rules apply to all financial undertakings that are regulated by the Dutch Financial