What does the AFM do?

The OHP Act gives the AFM more opportunities to take action against aggressive or misleading commercial practices. A lot of commercial practices which the OHP Act prohibits are also prohibited in the Financial Supervision Act (Wft). This Act contains all the rules relating to information on financial products. If the Wft does not apply, the AFM can still take action against financial service providers on the basis of the OHP Act.

Service providers who are exempt from the Wft (for example because they offer participations of more than 50,000 euro) are still bound by the rules on unfair trading. If they engage in unfair trading, the AFM can take action on the basis of the OHP Act.

The AFM and the Consumer Protection Authority are the supervisors of the new OHP Act. The AFM examines financial products and the Consumer Protection Authority assesses all other products.

What can you do?
If you think that you have been misled or that aggressive sales tactics have been used by a financial party, you should notify the Financial Markets Information Line.