Contributed By Vondst Advocaten N V
There are no data localisation requirements as such in the Netherlands. However, companies should ensure that the international transfer of data does not restrict supervision by competent regulators, including the AP and financial regulators such as the Dutch National Bank (DNB) and the Financial Market Supervisor (AFM).
The DNB has provided guidance in its 2011 circular on cloud computing, which is available on DNB’s website, as to what (contractual) safeguards should be taken to allow the DNB to adequately supervise in the event of outsourcing to a cloud provider. The DNB has also initiated discussions with major cloud providers such as Microsoft and Amazon in order to make their cloud contracts regulator-friendly.