On 21 December 2017, the Netherlands Authority for the Financial Markets (Autoriteit Financiële Markten, AFM) issued a press release on proposed changes to the Further Regulation on Conduct of Business Supervision of Financial Undertakings (Nadere Regeling gedragstoezicht financiële ondernemingen Wft, the Further Regulation).
In the Summer of 2017, the AFM consulted on changes to the Further Regulation as a result of the entry into force of the Packaged Retail and Insurance-based Investment Products Regulation (PRIIPs Regulation). One of the changes concerned the removal of the financial information leaflet (financiële bijsluiters) requirement from the Further Regulation, as most complex products will be captured by the PRIIPs Regulation. The entry into force of the PRIIPs Regulation and the removal of the financial information leaflet requirement will also have an impact on the rules around market materials (reclame-uitingen) and quotes (offertes). Therefore, a couple of additional technical changes to the Further Regulation have now been made. The rules on calculating and presenting the costs, risks and yield forecasts as included in various (pre)contractual information of complex investment products and third pillar pension products have been changed.
The decree amending the Further Regulation has been published in the Dutch Government Gazette.
View the AFM’s press release (Dutch only), 21 December 2017.
View the official version of the decree amending the Further Regulation (Dutch only), 19 December 2017.