Events listed in [AFM] Dutch Authority for the Financial Markets
Exploratory study into management of sustainability risks by management companies ...
ID 24520
The Dutch Authority for the Financial Markets (AFM) conducted an exploratory study on how management companies of Dutch collective investment companies handle sustainability risks. The study was prompted by changes to the Undertaking for Collective Investment in Transferable Securities (UCITS) Directive and the delegated Alternative Investment Fund Managers Directive (AIFMD), which apply from 1 August 2022. It took place in two phases and focused ...
Update Leidraad Pensioenadvies
ID 24397
The AFM has issued a comprehensive guideline on pension advice in the second pillar – Leidraad tweedepijler-pensioenadvies – which applies when pension advisors advise employers on a pension product in accordance with Article 4:23 of the Financial Supervision Act (Wft). In this guideline, a pension product encompasses not only offerings from premium pension institutions and insurers but also the placement of a pension plan ...
AFM vraagt aandacht voor de voorbereiding op DORA
ID 24289
The Dutch Authority for the Financial Markets (AFM) is drawing attention to preparations for the Digital Operations Resilience Act (DORA). It has published a document explaining the substantive aspects of DORA. This publication *supports companies in assessing their state of cyber security and in determining the necessary steps to comply with the regulation. The AFM remarks, that firms should start **preparing for DORA as ...
AFM onderzoekt vermogensscheiding bij derde pijler beleggingsproducten
ID 24239
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 ...
Leidraad geeft houvast bij nieuwe norm opdrachtbevestiging
ID 24029
As a result of amendments to the Pension Act due to the Future Pensions Act (Wtp), pension funds in the Netherlands are required to inform the parties involved in the creation of pension schemes (social partners) about the choices made and their impact on participants through an „opdrachtbevestiging“ (confirmation of assignment), starting from 1 July 2023. The opdrachtbevestiging is **part of the assignment acceptance ...
Nieuwe pensioenwet van kracht: extra gedragsnormen beschermen deelnemer
ID 23987
Effective 1 July 2023, the Netherlands has initiated a transformative change to its pension system, as the Future Pensions Act – Wet toekomst pensioenen (Wtp) is now in force. This act is set to transform the Dutch pension landscape significantly over the next few years, with full transition expected by 1 January 2028. The DNB, in its supervisory role, will assess each transition, ensuring ...
AFM en DNB publiceren position paper over datatoegang
ID 23861
Following a discussion among stakeholders, the AFM and DNB have published a position paper on data access. This Position Paper outlines the policy vision and priorities of the AFM and DNB regarding data access in the context of financial services. It addresses the growing importance of data access and its impact on financial services, including both traditional financial data and non-financial data like energy, ...
Uitdagingen voor de AFM vragen om aanpassingen in wetgeving
ID 23621
To effectively oversee the changing society and financial sector, the AFM is requesting several modifications to Dutch legislation, outlined in the annual legislative letter sent to Ministers Kaag (Finance) and Schouten (Poverty Policy, Participation, and Pensions). Laura van Geest, AFM’s CEO, explained their legislative requests this year revolve around **three themes: alignment with European legislation, effectiveness and efficiency of supervision, and a level playing ...
Handvatten voor belegginsondernemingen voor melden incidenten
ID 23424
The Dutch Authority for the Financial Markets (AFM) has introduced guidelines for investment firms, AIFMs and management companies to improve incident notification practices. After conducting a detailed review, AFM identified several reasons for firms not adequately reporting incidents. The findings are presented in a report containing suggested best practices. Key observations from the review include: – Some firms lack well-defined policies and procedures for ...
Policy Rule on Suitability 2012
ID 22614
The Dutch Authority for the Financial Markets (AFM) has published an updated version of the joint *Policy Rule on Suitability 2012, which is a set of guidelines issued by the AFM and DNB that clarifies the definition of ’suitability‘ for policymakers and outlines the criteria used by supervisory authorities to assess the fitness and propriety of these policymakers. Policymakers must demonstrate suitability in the ...