About the Firm

Regulatory Counsel | Financial Services is a law firm located in Amsterdam, the Netherlands owned and managed by Bart P.M. Joosen. The firm focuses on advisory work for clients that are active in the Dutch and international financial markets. The particular focus of the advisory work is on prudential supervision matters for banks, insurance companies, investment firms, collective investment schemes, payment service providers and electronic money institutions. The firm refers to other specialists for litigation services or dispute resolution matters.

 Main Areas of Practice and Expertise

  • Capital Requirements Regulation, Capital Requirements Directive IV and Solvency II provisions:
    • qualitative requirements for regulatory capital;
    • quantification of credit risk, operational risk and market risk, including matters concerning counterparty risk and CVA;
    • quantitative and qualitative aspects of liquidity management; and
    • consolidated and supplemental supervision of groups and financial conglomerates.
  • Qualification and regulation of systemically important institutions (G-SII and D-SII), macro-prudential supervision and systemic risk measures;
  • European System of Financial Supervision, Banking Union, Macroprudential Supervision and international oversight frameworks for payments;
  • Early intervention measures by prudential supervisory authorities, portfolio transfers, risk mitigation structures and similar crisis management measures;
  • Suitability and fit & proper testing of executive and non-executive directors of financial institutions;
  • Regulatory aspects of securitisation transactions and similar credit risk transfer and mitigation techniques;
  • Derivatives mandatory clearing and reporting requirements;
  • Client asset and money segregation issues and trusted third party money management structures;  
  • Payment services and electronic money institution regulations, particularly rules on infrastructure of payments and clearing and settlement:
    • market entry for payment services providers and electronic money institutions;
    • SEPA Credit Transfer, Direct Debit and Direct Debit B2B Rule Book matters;
    • oversight frameworks for electronic payments, credit card and debit cards and secure payments; and
    • AML-CFT-Sanctions regulations for payments services industry, particularly issues concerning (automated) transaction monitoring.
  • Regulation of trust and corporate service providers:
    • management of client structures by trust service providers;
    • gatekeeper requirements and customer due diligence;
    • KYC issues concerning complex ultimate beneficial owner structures; and
    • organisation of transaction monitoring and ongoing oversight.

Working Methodology and Skills

Working for clients in private practice for more than 20 years, we assist with complex matters about compliance, risk management, supervisory reporting and supervisory investigations. We have thorough experience in preparing on behalf of our clients applications for permits, authorisations, approvals for change of control, exemptions and further arrangements with supervisory authorities in the Netherlands and in approximately 20 other jurisdictions. Our approach is always solution driven. We strongly believe in the long term benefits of consensus between authorities and supervised entities on compliance requirements.

Specific training programmes and Workshops

Specific training programmes and workshops are offered for clients aiming to gain expertise on specific areas of prudential supervision and financial law. These training programmes are often aimed at supporting change management processes with customers. We provide scoping advice and guidance in the context of adapting compliance environments of clients to changes in the laws and regulations for the financial markets. Where this is beneficial to our clients, we are able to rely on our affiliation with the University of Amsterdam to organise contract research and broader training programmes offered by experienced university lecturers of the Centre for Financial Law.

Knowledge management

The firm offers its clients a bespoke knowledge management service directed at highlighting changes in the regulatory requirements for banks, insurance companies, investment firms and other financial institutions. The service assists in highlighting the legislative plans and programmes developed by European and international law makers. We monitor for our clients policy making by standard setting organisations such as the Financial Stability Board, the Basel Committee on Banking Supervision, the Committee on Payments and Market Infrastructures (CPMI) and the International Association of Insurance Supervisors (IAIS).