London fintechs which are already regulated by the FCA and operate in the EU on the basis of a passported license, seek alternative ways to operate their business in the EU after Brexit. Where the Dutch government is promoting the Netherlands and trying to convince fintechs to move to Amsterdam, the Dutch regulator is said to take a strict approach.
Only recently, with effect from 19 February 2019, PSD2 has been implemented in the Netherlands. This is the time for the Dutch regulator to set the tone and implement a consistent approach which will contribute to the excellent reputation the regulator has.
When applying for a license in the Netherlands it is recommended to be prepared for a thorough process and critical questions of the Dutch regulator. There is no light regime which would apply to regulated fintechs coming from other (former) EU member states.
Dolende fintechs uit Londen botsen met toezichthouder DNB Waar de overheid Britse fintechs naar Nederland probeert lokken, is DNB terughoudend in het afgeven van vergunningen. De bedrijven klagen over trage procedures en gebrek aan specifieke kennis bij de toezichthouder. Sommige wijken daarom uit naar landen met soepeler regimes.