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DUFAS has published a position paper on the European Commission’s proposal for an EU Tax Omnibus. With this proposal, the Commission aims to simplify the European framework for direct taxation. It is doing so through an omnibus that amends and simplifies multiple tax directives at once. At DUFAS, we support the elimination of withholding tax on certain dividend and interest payments within the EU. However, we do ask that these benefits also apply to investments made through an investment fund.
The Dutch asset management sector has a wealth of data, but a complete picture of the market is lacking. Furthermore, there is no centralized data collection or analysis. DUFAS aims to change this with a database that allows member managers to share more data with one another. Wouter Elsenburg, a researcher at SEO Economic Research, has been working on its development for some time. The Netherlands needs to catch up, as this is already happening in other countries. The goal of Elsenburg’s work is to gain better insight into the sector, both for the managers themselves and to support the advocacy efforts of the industry association DUFAS. Participants have responded positively.
DUFAS has submitted comments on the ESMA consultation regarding the reporting requirement under Article 7d of EMIR. Under this requirement, parties that clear transactions through a recognized CCP from a third country must report annually to their supervisory authority on the scope of those clearing activities. ESMA sought comments on the technical standards that specify the content and format of these reports.
We are taking on a more active role within the knowledge center of EFAMA, the European trade association for asset managers, with two appointments. Marlon Jansen, Head of EU Affairs & Communications, has been appointed vice-chair of the Pensions Standing Committee. In addition, Ron Gruijters, Head of Sustainable Finance, has been appointed chair of the Sustainable Data and Reporting Workstream. Both appointments are for a term of two years.
We have submitted our comments on the Anti-Money Laundering Authority’s (AMLA) consultation regarding the draft implementing technical standards on the format for reporting suspicions and providing transaction records under Article 69(3) of the Anti-Money Laundering Regulation (AMLR). In our response, we emphasize the specific and distinctive nature of the asset management sector and request that the AMLA develop a tailored template for reporting suspicious transactions that is suited to the activities of our members.
He has now been managing director of DUFAS for nearly three years. During that time, Jeroen van Wijngaarden has seen criticism of the reliance on, for example, American technology grow. Today, the call is loud and clear. Not only from regulators such as the AFM and DNB, but also from Dutch asset managers themselves, who manage the assets of millions of Dutch people. What’s going on? Van Wijngaarden: “Our members depend, for parts of their digital infrastructure, on technology and suppliers that they do not control themselves and that are often based outside Europe. Geopolitical developments are giving this dependence a new significance. Strategic independence is therefore no longer just an abstract political debate, but increasingly a concrete issue for the financial sector itself.”
DUFAS has submitted comments on the Anti-Money Laundering Authority’s (AMLA) consultation regarding the draft guidelines for ongoing monitoring of business relationships under Article 26(5) of the Anti-Money Laundering Regulation (AMLR). In our response, we emphasize the importance of a truly risk-based and proportionate approach.
Welcome to the DUFAS team! We’re delighted that Melissa will be joining our team in the coming months as Interim Manager of Regulatory Affairs specializing in AML and sanctions. Melissa previously worked at the AFM, KPMG, and in the banking sector, bringing with her extensive experience and a broad perspective on the industry. To get to know her better, we asked her a few questions.
Did you know the average career spans about 80,000 hours? It represents a remarkable opportunity to create impact. Ro-Next is organizing this year’s flagship event ‘Redefining Impact: Build a Meaningful Career’, with the help of DUFAS, welcoming Marnix Kluiters to the Robeco’s HQ. Drawing on his personal story, Marnix will share how a series of setbacks led him to rethink success, purpose and the choices that shape a meaningful career.
Asset managers are becoming increasingly dependent on external suppliers and foreign technology platforms for their services. This brings economies of scale and innovative capabilities, but also new risks related to control, compliance, and business continuity. How do you maintain control over your technology, data, and critical dependencies? And how do you strengthen your strategic independence without hindering innovation and collaboration?
DUFAS has submitted comments on the Anti-Money Laundering Authority’s (AMLA) consultation regarding the draft guidelines for the Business-Wide Risk Assessment (BWRA) under Article 10(4) of the Anti-Money Laundering Regulation (AMLR). We welcome the emphasis on a risk-based and proportionate approach and have made recommendations to further clarify the guidelines and ensure they remain practical and implementable.
Together with KPMG, we have published the paper *Bridging the Gap: How a European Security Fund Can Enable Defense Investments for Asset Managers*. The paper examines how private capital can more easily find its way to where it is needed most—unlisted companies and small and medium-sized enterprises (SMEs)—and what obstacles asset managers currently face in doing so.
