Regulators

NIBC Bank N.V. is subject to supervision by the Dutch Central Bank (“DNB”) and the Netherlands Authority for the Financial Markets (“AFM”). DNB is responsible for the prudential supervision of NIBC Bank N.V. The AFM supervises the behavior and conduct of NIBC Bank N.V. on the financial markets.

Our international branches in Brussels, Frankfurt and London are authorized to operate by way of an EEA passport under the Banking Directive 2006/48/EC. These branches are also regulated by their host state supervisory authorities for the conduct of designated investment business in respectively Belgium, Germany and the U.K.

NIBC Credit Management, Inc., our U.S. subsidiary, is licensed by the U.S. Securities and Exchange Commission ('SEC') as an investment adviser and regulated under the U.S. Investment Advisers Act of 1940, as amended ('Investment Advisers Act').