Pursuant to section 2:96 FSA it is not allowed to provide investment services in the Netherlands without a licence of the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, AFM):
Article 2:96 Licence for performing investment services or activitiesTranslation of Artikel 2:96 Wet op het financieel toezicht.
– 1. It is prohibited to provide investment services or perform investment activities without a licence granted for that purpose by the Authority for the Financial Markets.
– 2. Upon application, the Authority for the Financial Markets may, whether for a specific period of time, grant a full or partial dispensation from paragraph 1 if the applicant shows that the interests which the present Part, Part III ‘Prudential Supervision Financial Enterprises’ and Part IV ‘Conduct Supervision Financial Enterprises’ seek to protect are sufficiently protected otherwise.
Investment services are included in annex I to directive 2014/65 2 (Mifid II) and include the reception and transmission of orders in relation to one or more financial instruments, execution of orders on behalf of clients, portfolio management and investment advice (regarding financial instruments).
SCCN introduces professional investors to entrepreneurs and does not provide investment advice as specified in art. 1:1 FSA. This activity does not qualify as an investment service. Therefore, SCCN does not require a licence to provide investment services in The Netherlands.
Closing the deal itself is a serious undertaking. Usually, a bank, a specialized attorney, a valuation expert and an accountant will be required when finalizing the deal.