The Financial Supervision Act (Wft) brings together virtually all the rules and regulations of the financial market and its supervision. As of 1 January 2007, the Wft replaced a total of eight types of regulatory measures. Since then, we have supervised the extensive supervisory system of financial institutions (supervision of banks, insurers, investment institutions, etc.) that we know in the Netherlands in a law and have developed subordinate regulations on this basis.
The Wft has an Introduction and Amendment Act. The purpose of the Wft is to make financial market legislation targeted, market-oriented and transparent. The tasks of DNB (prudential supervision) and AFM (conduct of business supervision) are not overlapping. In addition, the rules that financial institutions must comply with will be simplified and the Wft will reduce the management burden for companies.
