As the supervisor responsible for promoting fairness and transparency within financial markets, the Netherlands Authority for the Financial Markets (AFM) also wants to be as transparent as possible about how it performs its duties. The AFM has therefore published the AFM Methods of Communication, which provide insight into how it communicates externally about its supervisory practice.
The Methods of Communication describe when and how the AFM can provide information within the statutory options and restrictions that apply for it. The Methods also clarify how alerts can be provided to the AFM. The AFM recognises the need to provide as much transparency and accountability as possible, as well as providing consumers and investors with insight into the risks in the market. Of course, the AFM must be careful in its communication and must therefore always consider all the interests involved.
The Methods are consistent with the results from the investigation by the Temporary Committee Investigating the Financial System [Tijdelijke commissie onderzoek financieel stelsel], (also called the De Wit committee), and the DSB Bank Inquiry Committee (the Scheltema committee). The De Wit committee called for greater transparency in performance of financial supervision. The Scheltema committee also referred to the importance of accountability and transparency of supervisors. Surveys and interviews with stakeholders also show that there is a need for more openness.
The Methods implementation is subject to the currently applicable legislation. In its annual report for 2009, the AFM observed that the statutory confidentiality regime restricts the AFM in its options for communication concerning its activities. The AFM would therefore consider it useful to have this regime reviewed in detail, as recommended by the De Wit committee.
The AFM invites comments on the Methods from interested parties. The Methods can be adjusted if there are changes in the communication policy and/or the relevant laws and regulations. The Method can also be supplemented with by new topics at a later date.
The AFM promotes fairness and transparency within financial markets. We are the independent supervisory authority for the savings, lending, investment and insurance markets. The AFM promotes the conscientious provision of financial services to consumers and supervises the honest and efficient operation of the capital markets. Our aim is to improve consumers’ and the business sector’s confidence in the financial markets, both in the Netherlands and abroad. In performing this task the AFM contributes to the prosperity and economic reputation of the Netherlands.
The AFM is committed to promoting fair and transparent financial markets.
As an independent market conduct authority, we contribute to a sustainable financial system and prosperity in the Netherlands.