On 2 August 2016, the Dutch Minister of Finance published for consultation a draft legislative proposal for the Act on investment properties and investment bonds (Wet beleggingsobjecten en beleggingsobligaties, the Proposed Act). The Proposed Act will be implemented in the Act on the Financial Supervision (Wet op het financieel toezicht) and the Financial Supervision Funding Act (Wet bekostiging financieel toezicht).
The Proposed Act seeks to introduce supervision on the management of investment properties and investment bonds and aims to increase the protection of investors investing in these products. Under the Proposed Act it will be prohibited for managers of investment properties or investment bonds to offer these products without first having obtained a licence from the Netherlands Authority for Financial Markets (Autoriteit Financiële Markten). Under certain circumstances a manager of investment properties of investment bonds may also be required to appoint a custodian (bewaarder).
View the Proposed Act (Dutch only), 2 August 2016.
View the Explanatory Memorandum to the Proposed Act (Dutch only), 2 August 2016.