The AFM on the international stage
The international aspects of its work are very important to the Netherlands Authority for the Financial Markets (AFM). Most of the legislation concerning financial supervision is the result of choices made at not only European but also global level. The AFM tries to ensure that it is permanently represented in both European and global cooperative bodies that address issues relating to the supervision of conduct on the financial markets. International contacts are also essential for ongoing supervisory tasks.
By actively participating in international consultations, the AFM makes a significant contribution to the international activities of the securities regulators in Europe and beyond. Within the European Union the AFM participates in the European Securities and Markets Authority (ESMA) (formerly known as CESR), which is both an advisory body for the European Commission and a cooperative body for the securities regulators involved. There are countless expert and operational groups active within ESMA, which of course can count AFM experts among their members.
At global level the International Organization of Securities Commissions (IOSCO) is the most important organisation for securities regulators. As one of the 15 largest capital markets in the world, the Netherlands is a member of IOSCO's Technical Committee. A number of permanent and temporary working groups come under this policymaking committee.
The AFM also works closely on a bilateral basis with a large number of its fellow supervisory authorities in other countries. The law allows the AFM the freedom to make written agreements with national and international supervisory authorities in the form of a covenant, a Memorandum of Understanding (MoU) or an Exchange of Letters.
If you have any questions regarding the AFM's participation in international consultative bodies or about international developments on the financial market, please send an e-mail to the International Coordination Department (firstname.lastname@example.org) or phone +31-20-5510 648.