On 22 November 2016, the Dutch Minister of Finance published a consultation document in relation to the revision of the Act on the Financial Supervision (Wet op het financieel toezicht, the AFS) (the Consultation Document).
The purpose of the Consultation Document is to investigate whether, and if so how, it is possible to make the rules and regulations for the financial markets more accessible and future-proof. The Consultation Document sets out the problems related to accessibility and future-proofing of the AFS, that were identified after discussions with stakeholders. These themes include, but are not limited to:
- organisation and structure of the AFS;
- implementation of EU legislation into the AFS;
- overviews of all national and European legislation which applies to the different types of financial undertakings (financiële onderneming); and
- interaction between the AFS and Dutch civil law.
In addition, the Consultation Document sets out five different options that could be used for revising the AFS.
The consultation period will end on 1 March 2017.
View the Consultation Document (Dutch only), 22 November 2016.