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ARTICLE · 12 NOVEMBER 2012

Consultation On Financial Markets Amendment Bill 2014

De Brauw Blackstone Westbroek
De Brauw Blackstone Westbroek
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De Brauw Blackstone Westbroek

De Brauw Blackstone Westbroek

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The Minister of Finance is conducting a consultation on the Financial Markets Amendment Bill 2014.

NetherlandsCriminal Law
Patrick Ploeger
Patrick Ploeger
Marnix Somsen
Marnix Somsen
Roan Lamp
Roan Lamp
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The Minister of Finance is conducting a consultation on the Financial Markets Amendment Bill 2014. The proposed commencement date of the Bill is 1 January 2014. The changes proposed relate, among other things, to:

General duty of care for financial service providers

  • A new provision will be added to the Financial Markets Supervision Act (FMSA) requiring financial service providers to exercise due care at all times in dealing with their clients' interests. The Minister of Finance has stated that the introduction of this general duty of care will enable the AFM to take action before a consumer has incurred any damage. As a general principle, the AFM will continue to act on the basis of existing, specific regulations for financial service providers and take action on the basis of the general duty of care only in exceptional situations.

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