On 14 January 2016, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a consultation paper addressing three proposed amendments to the Further Regulation on Conduct of Business Supervision of Financial Undertakings (Nadere Regeling gedragstoezicht financiële ondernemingen Wft, the Regulation). The Regulation is based on the Decree on Conduct of Business Supervision of Financial Undertakings (Besluit Gedragstoezicht financiële ondernemingen Wft) and deals with various subjects in relation to financial services and financial products, such as the provision of pre-contractual information and requirements in relation to marketing materials.

One of the proposed amendments concerns an update of the mandatory ‘warning signs’, as these are currently not adequately aligned with digital media, such as google ads and mobile internet. Another amendment relates to the risk scores which are included in risk indicators. The AFM argues that the risk indicators for certain financial products should not contain a risk score, as the score may lead to a wrong and potentially misleading image of the investment risks associated with these products. The deadline for comments on the amended Regulation is 24 February 2016.

View the proposed amendments to the Regulation (Dutch only), 14 January 2016.