Consultation legislative proposal investment bonds

On the 2nd of August, the Dutch ministry of Finance has started an internet consultation (link, in Dutch) on a legislative proposal that aims, among other things, at introducing supervision on investment bonds management. The proposal introduces a  licence requirement for the manager of investment bonds. Furthermore the legislative proposal contains provisions that in some cases require the appointment of a depositary, in the course of which conditions are set which the depositary must meet. Investment bonds are bonds where the proceeds are used to collectively invest and where the return of the investment is used to repay the bond and to pay off the interest regarding the bond.

The legislative proposal is of importance for providers of investment bonds and managers and depositaries related to investment bonds.

The consultation will run until 14 October 2016. Finnius is currently working on a consultation reaction.