AFM onderzoekt vermogensscheiding bij derde pijler beleggingsproducten

The Dutch Authority for the Financial Markets (AFM) conducted an investigation into compliance with the Financial Supervision Act (Wft) regarding the transfer of tax-facilitated investment products within the third pillar.
The findings of the investigation revealed that not all market parties possessed adequate licenses to hold customer funds.
Furthermore, the AFM identified a risk of commingling of assets when customer funds are temporarily held in the market party’s own account during transfers. The AFM strongly advises market parties to be vigilant about this issue and, if necessary, to engage with the AFM.
Market parties offering tax-facilitated investment products are subject to ongoing supervision by the AFM. Some of the market parties included in the AFM’s sample did not have sufficient licenses to hold customer funds, and a few of them temporarily held customer funds in their own accounts during transfers. These market parties have since adjusted their operations.
Most market parties offering tax-facilitated investment products are part of the Capital Transfer Streamlining Protocol (PSK Protocol), managed by the Dutch Banking Association (NVB) and the Association of Insurers (VV). This protocol typically ensures that asset transfers are completed within fourteen days. The AFM has established operational agreements with NVB and VV for monitoring the adequate separation of assets for market parties participating in the PSK Protocol.