Regulatory & Governance

ABN AMRO’s operations are governed by numerous rules and guidelines, some of which are general and some of which are aimed specifically at financial institutions. In addition to our legal compliance, we also have our own guidelines, designed to prevent improper conduct, promote culture and prevent possible non-compliance, and so safeguard our integrity. Below you can find more information on various laws and regulations, and the Compliance, Risk and Governance webpages.

Regulatory

MiFID II: The Markets in Financial Instruments Directive II (MiFID II) entered into force on 3 January 2018. MIFID II aims to make European financial markets more efficient and transparent, there by enhancing investor protection. 

You can find more information on the various topics regulated under MIFID II on the following webpages.

Benchmark Verordening/IBOR

Benchmarks are currently being reformed or replaced globally, this is also known as the IBOR Reforms. With the aim to assure the reliability, accuracy and integrity of these benchmarks. The legal basis for these IBOR Reforms can be found in the Benchmarks Regulation (BMR). The BMR entered into force on June 1, 2016 and applies since January 1, 2018. The BMR contains rules for administrators of benchmarks, contributors who deliver input data for the determination of benchmarks and supervised users of benchmarks. 

On the following webpage you can find more information about the IBOR Reforms and the BMR.

EMIR

The European Markets Infrastructure Regulation (EMIR) is a European regulation that applies to all legal entities and natural persons performing an economic activity in the EU that enter into or will enter into a derivatives transaction. EMIR mainly contains rules for Over-The-Counter (OTC) derivatives contracts, but also for exchange-traded derivatives (ETDs). EMIR rules aim to assure more transparent and safe trading in OTC derivatives. The rules have gradually been phased in since 2012.

More information on EMIR can be found on the following web page.

PRIIPs

Since January 1, 2018, the European regulation Packaged Retail and Insurance-based Investment Products (PRIIPs) entered into force, which sets out rules for a large number of investment products. The PRIIPs regulation aims to provide investor protection by increasing the transparency of investment products. As a result, providers of these products must prepare and provide a Key Information Document (KID) to a potential retail investors. The KIDs helps retail investors gain a better understanding of the performance of the product. 

More information on these KIDs can be found on the following web page.

Privacy

The General Data Protection Regulation (GDPR) sets out rules on data protection at European level. The GDPR aims to have a uniform policy for the protection of personal data. 

On the following webpage you will find the privacy statement of ABN AMRO on the processing of your personal data in the contractual relationship with ABN AMRO.

FATCA

The U.S. Foreign Account Tax Compliance Act (FATCA) establishes rules for combating tax evasion by U.S. taxpayers worldwide. On this basis, Dutch banks must determine whether these rules apply to their customers. FATCA requires customers of Dutch banks to provide information to the bank. 

You can find more information about FATCA on the following web page.

PSD2

The European Payment Services Directive 2 (PSD2) sets rules on payment services. PSD2 aims to increase the competition and innovation for payment systems. Not only banks but also other companies and institutions will be able to make payments and start new payment services. However, this is only possible on permission bases. 

On the following web page you can find more information on PSD2.

Brexit

The government’s Brexit bill has completed its passage through the House of Commons and the House of Lords and has received royal assent. It is expected that the European Parliament will also give the green light which means the UK will formally leave the EU on 31 January 2020 at 11 pm GMT with a withdrawal deal – and it will then go into a transition period that is scheduled to end on 31 December 2020. 

More information on Brexit can be found on the following webpage.

Compliance

If you are looking for important Compliance policies and documents, the Code of Conduct or the ABN AMRO Corporate Governance Code statement, please refer to the following pages.

Governance ABN AMRO

ABN AMRO serves clients in the retail, private banking and corporate banking sectors. Our primary focus is on Northwest Europe. We offer clients in the Netherlands an extensive and comprehensive range of products and services across a variety of channels, including our Mobile Banking app and Internet Banking. 

On the following webpages you can find more information on the governance within ABN AMRO.