NCI accredited for PE Compliance Professional

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For the Continuing Professional Education (PE) program of the DSI Register Compliance Professional, the DSI Accreditation Committee has approved the program of the Dutch Compliance Institute (NCI). Previously, the PE-programs of NIBE-SVV and The Ministry of Compliance were also approved for this register.

Ready to enroll? Starting from the beginning of 2024, you can do so directly on the websites of the training institutions.

Continuing Professional Education 2024

The Continuing Professional Education program for 2024 kicks off on January 1, 2024, covering all registers. We recently unveiled the new objectives for 2024. Once the PE 2024 program is available at the training institutions, you can get started. Enroll directly with the respective training provider. Refer to the list below for all providers of PE programs.

Stay informed about the latest developments in your field through PE 2024. Find more information at www.dsi.nl/en/pe2024.

Challenges for Investment Professionals regarding greenwashing

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DSI and EY are joining forces in 2023 for roundtable meetings on greenwashing in the financial sector. We aim to facilitate a constructive dialogue among professionals in the investment industry, discussing recent developments and their impact on investment practices.

Previous meetings

In previous sessions, held in June and September, the focus was on legal, compliance, and marketing aspects of greenwashing. Participants extensively discussed the definition of greenwashing and how organizations interpret this concept. They also reflected on the Progress Report of the European Supervisory Authorities dated June 1st. Read more about these meetings here.

Challenges for Investment Professionals

During our third meeting on November 22nd, investment professionals collectively discussed challenges related to ESG investing and greenwashing. The growing demand for transparency regarding companies’ sustainable results (and the regulations surrounding them) poses challenges for investment professionals. One of these challenges is the sometimes limited availability of the right data. On the other hand, it was also noted that more data might not necessarily be the solution to the problem of greenwashing.

Training

During the meeting, investment professionals emphasized the importance of effective communication. It’s crucial to be transparent about the dilemmas surrounding ESG investing. An investment that was previously classified as sustainable may no longer be so later, partly due to regulatory changes. Investment professionals need a basic level of expertise in the ESG field. DSI can play a role in setting standards for competence and integrity.

Awareness and future whitepaper

It’s essential for organizations to create greater awareness of greenwashing across various sectors. The findings from the three sessions will be compiled into an informative whitepaper, to be shared with the industry in the first quarter of 2024.

Contact information

For more information about these meetings, you can contact Floris Mreijen, the director at DSI, and/or Mark van der Lecq, the lead legal at DSI.

DSI Anti Money Laundering (AML) Register

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In close collaboration with the industry, DSI has decided to launch a new register specifically targeting professionals dedicated to preventing financial crime: the DSI Anti Money Laundering (AML) register. This register provides uniform quality standards for AML professionals actively involved in the fight against financial crimes.

Roles in Financial Crime

Financial institutions such as banks and investment firms play a crucial role in preventing money laundering and financing terrorism. This is commonly referred to as the gatekeeper function.

The number of professionals engaged in combating financial crime has significantly increased in recent years. These individuals work in areas such as Customer Due Diligence (CDD), Know Your Customer (KYC), and Anti Money Laundering (AML). DSI is developing this new register specifically for the AML professionals.

What is a DSI AML Professional?

The DSI AML professional operates within the financial sector and is tasked with preventing their organization’s involvement in money laundering. The professional focuses on the proper application of the Wwft and possesses in-depth knowledge of customer research (KYC and CDD) and transaction monitoring. The DSI AML professional also has the skills to effectively act in their role as a money laundering combatant.

Uniform Quality Standards with an Independent Register
A key consideration for establishing this register is that AML professionals need to demonstrate proven expertise. Regulators are increasingly attentive to this requirement. Currently, various training programs are available in this field, varying in depth and assessment.

Our discussions with DSI-affiliated businesses reveal a need for uniform quality standards for this professional group. These standards should be set and monitored by an independent and expert certifying authority.

DSI believes that such an initiative aligns well with the existing DSI certifications for investment and compliance professionals. Through the new register, DSI aims to ensure a baseline level of expertise and integrity for this professional group. In addition to uniform training requirements for entry into the register, there will also be an obligation for ongoing education. Finally, DSI’s code of conduct and disciplinary procedures will apply.

Current Status

In January, the final terms for the new registry were approved by the DSI Accreditation Committee. Subsequently, these terms were shared with providers of financial crime training programs. The first accreditation request is currently being processed by DSI. The Compliance Advisory Committee and Accreditation Committee will evaluate this request. It is expected that the registry will launch before the summer of 2024.

Contact Information

For inquiries about the new register, feel free to contact Mark van der Lecq (Lead Legal DSI) via our contact form.

Week of Integrity

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As a proud partner of the Week of Integrity, taking place from December 1 to 9, we emphasize the power of ethical behavior in the financial sector. DSI has undertaken various initiatives to highlight integrity in this sector. At DSI, integrity goes beyond being a core value; it is the guiding principle for our mission. We believe in a financial world where ethics and professionalism go hand in hand.

DSI has taken various initiatives to bring attention to ethical behavior in the financial sector. This includes incorporating the Integrity Module e-learning into all our certifications and forming various collaborations with partners in the sector.

DSI Activities in the Week of Integrity

  • EY and DSI host a roundtable on greenwashing: EY and DSI organized roundtable discussions on Greenwashing. Insights will be shared in an informative whitepaper available to the sector. ➜ more information
  • Stakeholder event on integrity and inclusion: Rabobank, KPMG, and DSI organized a stakeholder arena on integrity and inclusion. Perspectives from various sectors were discussed based on statements and questions. ➜ more information
  • Devil’s dilemmas of investment professionals: Watch our live webinar on the devil’s dilemmas of investment professionals. Discover the learning outcomes and practical applications of statements discussed during the DSI Disciplinary Committee. ➜ more information

What is the Week of Integrity?

The annual event, held in December, is a crucial multi-stakeholder initiative. It promotes knowledge sharing and stimulates discussions about integrity in workplaces and boardrooms, regardless of the type of organization. What can employees, officials, and managers expect? And what responsibility do politicians bear, both nationally and internationally, for companies with international interests?

The commitment extends beyond just one week in December; on the contrary, the organization aims to unite people throughout the year in their dedication to integrity. Every day, efforts are made to make integrity an integral part of the behavior of individuals, organizations, and businesses. The Week of Integrity highlights the power of ethical behavior in the financial sector. Explore DSI’s initiatives.

DSI Introduces Supervisory Board

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DSI has made a significant change in direction. Starting from October 26, 2023, DSI has implemented an entirely new governance model with a Supervisory Board and a managing director.

The Evolution of DSI’s Governance Model

When DSI was founded in 1999, a governance structure was chosen that included industry associations from the sector in the board. These associations represented their members in the board. In recent years, DSI operated with a broad General Board with an independent chair. From the General Board, an Executive Board was formed, and the director was responsible for the daily management of the organization.

In 2023, the General Board decided to establish a Supervisory Board with a managing director. This model, now common among smaller foundations and associations, aligns best with the renewed and downsized DSI. The involved industry associations will have a different role, as anchored in the new statutes.

More information about the new governance can be found here: new governance DSI

Composition of the Supervisory Board

Our new Supervisory Board consists of five experts from the financial world, with the primary task of overseeing the policies of the managing director, Floris Mreijen. The composition of the Supervisory Board is as follows:

Tanja Nagel (Chair)

Tanja Nagel, with an extensive career in financial services, held top positions at renowned institutions such as Van Lanschot and Theodoor Gilissen Bankiers. Currently, she is a commissioner at EY Netherlands and a board member at Stichting Oncode and Stichting Capital Amsterdam. Additionally, she serves as a moderator at the Erasmus Governance Institute. Tanja Nagel was formerly the chair of the DSI board and will now be the chair of the Supervisory Board.

Jaco Aardoom

Jaco Aardoom, former CEO of Hof Hoorneman Bankiers, has extensive experience in fund management and the private banking sector. He previously served as division chair of Delta Lloyd Asset Management and was director of Investments at Ohra Insurance & Banking Group. His career began in 1988 as an account manager at Bank Mees & Hope.

Theo Andringa

Theo Andringa has extensive experience in the retail investment sector. He currently works as a director and investment team member at the asset manager NNEK. Additionally, Theo was the chairman of the Association of Asset Managers & Advisors for 12 years. In this capacity, Theo was also a board member of DSI.

Erik Luttenberg

Erik Luttenberg, former statutory director of asset manager Kempen Capital Management, has extensive experience in financial services. Currently, he is active as a director at KPN pension fund, at Eumedion, and as a director and supervisor at several investment institutions.

Daniëlle Melis

Daniëlle Melis, with a background in the banking sector and a specialization in corporate governance, earned her stripes at MeesPierson, NIBC, and Rabobank, and in the governance domain as the chair of the Nyenrode Corporate Governance Institute. Currently, she is a board member and also a member of the investment advisory committee of the General Pension Fund Stap, and she holds directorships at Triodos Bank, PGGM Investments, and Blue Sky Group. Until November 1, she was a member of the Disciplinary Committee of DSI, a role she relinquishes with her appointment to the Supervisory Board.

Thanks to Former Board Members

With the introduction of the Supervisory Board, DSI bids farewell to the board members who have diligently led the organization in recent years, thanking them for their efforts to make the financial sector more reliable and competent.

In the coming months, the members of the Supervisory Board will be introduced more extensively through personal interviews. We invite you to stay informed about the latest developments around DSI and its initiatives through our newsletter and LinkedIn channel.

Overview of DSI Participants

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At DSI, we firmly believe in the power of collaboration to enhance the reliability of the financial sector. Our DSI Participants form the backbone of this collaboration and play a crucial role in strengthening integrity and professionalism in the industry. We want to provide more insight into who our DSI Participants are and why participating in DSI is essential.

Overview of DSI Participants

For a complete overview of our over 300 DSI participants, you can visit our DSI Participants page.

Who Are the Participants?

Our DSI Participants are companies and organizations in the financial sector dedicated to the highest standards of competence and integrity in their field. This includes a wide range of institutions, from financial service providers and banks to asset managers and investment firms. While each participant is unique, they all share a common goal: to increase the reliability of the financial sector.

The importance of participants for DSI

Participants are invaluable in promoting transparency and trust in the financial world. By joining DSI, participants demonstrate their commitment to the highest ethical standards and the competence of their employees. This contributes to enhancing the reputation of the entire sector and the reliability of professionals working within it.

Benefits of DSI Membership

As an organization participating in DSI, you enjoy various benefits, including:

  • Trust and Recognition: Involvement with DSI emphasizes a participating organization’s commitment to integrity and professionalism, building trust with customers and stakeholders.
  • Expertise and Support: DSI provides support and resources to help organizations maintain the highest standards in the industry, including certifications, the Continuing Professional Education program, the DSI Public Register, the code of conduct, and accredited training providers.
  • Networking Opportunities: Participating organizations gain access to an extensive network of like-minded professionals and organizations, offering valuable opportunities for collaboration and growth.
  • Efficient Oversight Tools: Through our dedicated employer portal, employers can access necessary figures and data for internal and external use at any time. This allows them to manage the real-time status of employee certifications.

How can an organization become a participant at DSI?

The process of becoming a participant at DSI is simple and accessible. If a company holds an AFM license, the organization can join DSI and become a participant. Registration can be done through this registration page. For more information on registration, interested organizations can also contact Nana Asante, Relationship Manager at DSI, via the contact form on our website.

Discover the DSI Mediakit

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For those who are DSI certified, it is crucial to be able to clearly explain the meaning of this certification to both current and prospective clients and colleagues. Fortunately, DSI has compiled a comprehensive mediakit to support you in this endeavor.

Check out the DSI mediakit here.

What does our DSI Mediakit offer?

  • Informative Brochures: Learn more about our certification programs and the benefits your registration brings to your clients.
  • Visual Content: Use our videos and banners to visually reinforce the essence of your DSI registration.
  • Logos in Various File Formats: Our logos are available for use in various communication channels, including websites, digital signatures, and business cards.
  • LinkedIn Banners: Enhance your LinkedIn profile with professional banners highlighting your certification and achievements.
  • Press Material: For journalists and media professionals, we provide useful tools to learn more about the mission and objectives of DSI.

Do you have specific requests, such as integrating your company logo? Feel free to contact us at communication@dsi.nl. Together, we can explore how to meet your individual needs.

Take a look at our DSI Mediakit now and let us support you in spreading your registration story. Together, we’re working towards even more success in the financial sector!

DSI funding change

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As of January 1, 2024, our funding structure will change. This change makes DSI’s funding fairer and more transparent. We are saying goodbye to the participation fee and will evenly distribute our annual costs across the number of certified professionals. What does this mean in practice? Simply put, the more professionals who certify themselves, the lower the annual costs per certified professional will be.

While these changes bring predominantly positive aspects, we realize that they may have different effects (sometimes temporarily) for some participants. We want to provide clear and transparent information to our participants about the background of these changes and how they will impact your organization.

What does the change in funding entail?

The adjustment mainly involves simplifying our funding method. The basis remains the number of certifications per participant, but we are adjusting our calculation method and eliminating the annual participation fee. Each year, a single fee per certification will be determined, and participants will receive only one annual invoice, regardless of the number of changes made during the year. This annual invoice is based on the average number of certifications over the past three years.

With these changes, we make DSI’s financing fairer. We distribute our annual costs fairly across the number of certified professionals. As more professionals become certified, the costs per certified individual will decrease.

Certification fees 2024

Based on the total number of certifications and the DSI budget for 2024, we anticipate that the cost per DSI certification in 2024 will be around 330 euros. We determine this in January, using the final numbers from the end of 2023. For more informatie about the fees 2024, look at this page.

In January, participants will receive an invoice based on the average number of certifications that they, as DSI participants, have registered with DSI over the past 3 years. Participants will receive only one invoice in 2024, regardless of the number of new certifications or changes administered in the coming year.

Characteristics of the new funding method

  • More predictability: The new method provides more predictability for both participants and our organization since cost fluctuations are reduced by averaging over three years.
  • Reduced administrative burdens: We understand that administrative burdens can sometimes be perceived as cumbersome. With the new structure, we reduce the number of invoicing moments, thus decreasing administrative burden.
  • A fairer and more tranparant system: The new structure eliminates tiers and introduces a fairer system for all participants, emphasizing equal treatment.

More Information

We value our relationship with all our participants and understand that changes may raise questions at times. We are here to answer all your questions and address any concerns you may have. If you would like more information about the changes in costs, please visit the following page: funding changes. Feel free to contact us if you need further clarification.

You can contact Nana Asante (Relationship Manager DSI) or Floris Mreijen (Director DSI) for answers to your questions via the contact form or by phone at 020 – 620 12 74.

New governance DSI

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The board of DSI has decided, as the final step in all the earlier changes, to adjust the governance of the organization. The model with a General Board is being replaced by a Supervisory Board with a director-manager. The Supervisory Board will be operational in the autumn of 2023.

The development of DSI’s governance model

When DSI was founded in 1999, a governance structure was chosen in which industry organizations from the sector joined. These branches represented their constituency on the board. Over time, there have been regular discussions about alternative governance structures, and several adjustments have been made. In recent years, DSI has worked with a broad General Board with an independent chairman. A Managing Board was formed from the General Board, and the director was responsible for the day-to-day management of the organization.

DSI is transitioning to a supervisory board model

In 2023, after considering various governance models, the General Board decided to establish a Supervisory Board with a director-manager. This model, which has become common for smaller foundations and associations, best suits the renewed and smaller DSI and makes decision-making faster and more flexible. The involved industry organizations will have a different role, anchored in the new statutes.

The main elements of the new governance are as follows:

  • The Supervisory Board is tasked with overseeing the policies of the board (the director-manager) and the general affairs of the Foundation.
  • The Supervisory Board will consist of at least 4 and at most 5 individuals. These individuals have a background in the financial sector and an affinity with DSI’s field of work. The composition of the Supervisory Board will be aligned with the corporate governance code as much as possible.
  • The director-manager is responsible for managing the foundation and annually prepares an activity plan and a budget. The Supervisory Board must then approve the activity plan and the budget. The approval of the Supervisory Board is also required for several other significant decisions by the director-manager.
  • The involvement of the industry organizations is enshrined in the statutes. The director-manager is required to hold annual discussions with the industry organizations about strategic developments. The director-manager will also organize an annual plenary meeting for the industry organizations to discuss the annual plan and budget. This will start in 2024.
  • The statutes also include a mechanism to keep DSI’s costs under control. A financial committee will be established with the task of assessing the efficiency and necessity of a significant budget overrun or a proposed increase in the budget for the following year.
  • The new Supervisory Board will commence in the autumn of 2023. DSI will communicate the composition of the board in the near future.

More Information

If you would like more information about the new governance, please contact Floris Mreijen (Director DSI) for answers to your questions via the contact form or by phone at 020 – 620 12 74.

Learning objectives PE 2024

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Every year, the DSI Advisory Committees revise the learning objectives for the Continuing Professional Education (PE) program to keep the registers up-to-date and comply with changing laws and regulations. Here is a concise overview of the learning objectives for the Retail Investment, Institutional Investment, and Treasury registers:

Retail Investment

The PE program for Retail covers the topics alternative investments, publicly traded private equity, sustainable investing, and AI. It also addresses the theme of saving versus investing. The PE program will delve into the impact of changing return expectations (e.g., higher bond yields) and changing taxation regarding saving and investing on the suitability of a particular risk profile.

View the learning objectives for Retail in 2024 here.

Institutional Investment

Similar to this year, the learning objectives place significant emphasis on current developments in sustainable investing. The consequences of the current interest rate policy for various asset classes are also discussed. Additionally, topics include monetary developments, the transition to the new pension system, Digital Operational Resilience Act (DORA), and AI.

View the learning objectives for Institutional Investment in 2024 here.

Treasury

The learning objectives for Treasury in the coming year focus on the most important developments in sustainable investing in commodity markets. Carbon credits are also covered. The impact of the current interest rate policy and geopolitical risks will be addressed in the PE program as well. Finally, EMIR 3.0 and AI are included in the learning objectives.

View the learning objectives for Treasury in 2024 here.

DSI ensures the quality and content of the PE programs by keeping the learning objectives current. The topics are assembled by experts from the industry in various DSI advisory committees. More information about the PE program can be found here.