De Nederlandsche Bank (DNB) has withdrawn the payment institution licence of Caleen Financial Services B.V. (CFS) under Section 1:104 of the Financial Supervision Act, citing repeated failures to meet statutory obligations. The withdrawal has become irrevocable after DNB rejected CFS’s objection and no appeal was filed. DNB found that CFS no longer met requirements for sound and ethical operational management and no longer had at least two natural-person policymakers who met the fit and proper assessment. The decision also referenced arrears in paying supervisory fees and repeated failures to inform DNB, or to do so in time, about key developments relevant to retaining the licence; DNB concluded there was no concrete prospect of structural remediation and that a less far-reaching measure was insufficient. The withdrawal’s effective date was amended from 5 February 2024 to 5 April 2024 at CFS’s request to implement its exit plan, with the wind-down deadline moved to 15 April 2024; CFS’s objection filed on 23 April 2024 was declared unfounded on 21 March 2025.
De Nederlandsche Bank 2026-01-21
De Nederlandsche Bank withdraws Caleen Financial Services B.V.’s payment institution licence for persistent statutory breaches
De Nederlandsche Bank has irrevocably withdrawn the payment institution licence of Caleen Financial Services B.V. due to repeated statutory failures, including inadequate operational management and failure to meet fit and proper requirements. The withdrawal, effective 5 April 2024, follows CFS's unsuccessful objection and lack of appeal, with a wind-down deadline set for 15 April 2024.