On Wednesday 27 March Theodor Kockelkoren, Commissioner of the Netherlands Authority for the Financial Markets (AFM), has been appointed as Chair of the G20/OECD Task Force on Financial Consumer Protection.
The Task Force is open to all G20, FSB and OECD members, other relevant international organisations and standard setter bodies. The Task Force was responsible for the developed the High-Level Principles on Financial Consumer Protection, endorsed by the G20 Leaders in 2011.
An Action Plan to support the implementation of the High-Level Principles was endorsed by the G20 Leaders at the Los Cabos Summit in Mexico, 2012. The Task Force is focusing on the development of effective approaches to support the implementation of the High-Level Principles for three priority principles: (i) transparency and disclosure, (ii) responsible business conduct and (iii) complaints handling and redress.
An update report on the work undertaken by the G20/OECD Task Force on Financial Consumer Protection will be submitted to G20 Leaders at the September 2013 Summit in St. Petersburg.
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.