This decree implements the Act on funding of financial supervision, which outlines how the costs of the AFM and DNB will be financed. Both the Act and the Decree will come into force on 1 January 2013.
The new funding system is based on a fixed government contribution to the costs of financial supervisors. The manner in which supervisor costs are passed on to the financial sector will also change. Regulated institutions will be divided into categories, and a percentage-based share in the funding for each category will be set for a five year period.
The decree contains the criteria on the basis of which the amounts charged to the regulated institutions will be determined. In addition, the decree provides that the contributions for entities that are found to fully participate in a self-regulating system can be reduced.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
