When it comes to compliance with the laws and regulations applicable to pension funds, the board of pension funds can be assisted by a Compliance Officer. The Compliance Officer can help the board by explaining rules and monitoring whether these rules are being complied with. More specifically, the Compliance Officer may be charged with supervising the code of conduct of pension funds as a whole and private investment transactions in particular. In the context of enforcement, the Compliance Officer may also be empowered to advise the board on possible sanctions (including warning, reprimand, suspension or dismissal) in the event of non-compliance with the applicable (internal) laws and regulations. A Compliance Officer can be appointed both internally and externally by the pension fund. It is, of course, wise to record the duties and powers of the Compliance Officer in writing in order to prevent mutual disputes in the future. The Compliance House team is happy to assist your pension fund with this.
In the context of the Financial Assessment Framework, De Nederlandsche Bank (DNB) supervises compliance by pension funds with pension regulations. DNB’s supervisors do this by, among other things, testing the reliability of directors, granting permits and tackling financial and economic crime. On the one hand, supervision by DNB is prudential, i.e., it focuses on the financial soundness of pension funds and contributing to the financial stability of the pension fund sector. On the other hand, DNB’s supervision is material and concerns the supervision of compliance with all standards that are not part of the prudential supervision or the supervision of conduct for which the Netherlands Authority for the Financial Markets (AFM) is charged. Since 2015, according to the new legislation and regulations (nFTK), pension funds must also report to DNB.
At Compliance House we understand that the risks can differ per pension fund and therefore that setting up controlled and ethical business operations involves customization. That is why Compliance House takes a personal approach. Our team is an expert in the field of compliance and is happy to provide your pension fund with advice. Whether you want to know whether your pension fund complies with the applicable laws and regulations for pension funds, which steps it needs to take for controlled and ethical business operations, how to determine the duties and powers of a Compliance Officer, at Compliance House you are on the right track. correct address. If you have any other questions about compliance & pension fund, please contact Compliance House.