Fitness and propriety are ongoing requirements. If there are facts or circumstances that affect propriety and/or fitness, this must be notified by the financial enterprise or the existing policymaker to the AFM and/or DNB. If the AFM and/or DNB become aware of facts or circumstances that raise doubts regarding fitness or propriety, a reassessment may be considered.
Such doubts may be raised due to actions or omissions by the person in question, or due to relevant developments with respect to the enterprise. In such cases, the AFM and/or DNB consider whether there is ‘reasonable cause’ for conducting a reassessment. Whether such reasonable cause exists always depends on the circumstances of the matter at hand. This will be reviewed for each individual case. This is known as the preliminary review.
The term ‘reasonable cause’ is not defined by legislation or interpretation. There is therefore no exhaustive list of reasonable causes for conducting a reassessment.