DUTCH CARIBBEAN REGULATORY FRAMEWORK - Central Bank monitors compliance

The regulatory rules and regulations in the Netherlands Antilles deal with credit institutions, investment institutions and administrators, insurers and insurance brokers, company pension funds, trust service providers, capital markets, anti-money laundering and identification, and foreign exchange control and license fees.

The Netherlands Antilles have one regulator: the Central Bank of the Netherlands Antilles (Bank van de Nederlandse Antillen). The Central Bank is a separate legal entity (rechtspersoon) having its seat in Curacao. The Central Bank is also an independent administrative body (zelfstandig bestuursorgaan) and does therefore not fall under the political responsibility of the Minister of Finance.

The supervisory authority is delegated to the Central Bank in Article 11 of the Central Bank’s Statute of 1985 (Centrale Bank-Statuut). Article 11 is amended each time a new, relevant supervisory regulation comes into force, in order to allocate the new supervisory tasks to the Central Bank. The supervisory regulation sets out the specific tasks and authorities of the Central Bank in relation to the areas of supervision. The Central Bank’s supervisory role varies, inter alia, from (i) monitoring compliance with supervisory laws and issuing licenses and exemptions as prescribed therein, to (ii) formulating rules, directives and guidelines based on discretionary powers granted to the Central Bank by the relevant supervisory laws (and monitoring compliance with such rules, directives and guidelines).

Karel Frielink
Attorney (Lawyer) / Partner

(Source: Karel's Legal Blog)

September, 2008

Lawyer Roeland Zwanikken considers legal action against ABN AMRO Bank

THE HAGUE--Attorney-at-law Roeland Zwanikken at St. Maarten’s BZSE law office is considering legal action against the intention of the Dutch ABN AMRO Bank to close the bank accounts of its clients in the Dutch Caribbean.

Fiscaal onderzoek bij notariskantoren vinden doorgang

In het Antilliaans Dagblad: Fiscaal onderzoek bij notariskantoren
WILLEMSTAD – De fiscale onderzoeken bij de notarissen vonden en vinden, ondanks de beperkingen van Covid-19, weer doorgang en de medewerking aan de kant van notarissen en adviseurs is daarbij ‘over het algemeen goed’.

Juridische miljoenenstrijd tussen BNP Paribas en Italiaanse prinses verhardt

  • Bezit van Italiaanse Crociani-familie op Curaçao mag van rechter worden verkocht
  • De Crociani's ruziën al jaren met BNP Paribas over een claim van $100 mln
  • Curaçaos trustkantoor United Trust heeft 'geen enkele relatie meer' met Camilla Crociani
Een Italiaanse prinses met zakelijke belangen in Nederland heeft het onderspit gedolven bij diverse rechtbanken in een langslepend conflict met zakenbank BNP Paribas.