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Supervision For AIFM / Collective investment schemes

The supervision of financial enterprises is subject to the Act on Financial Supervision [Wet financieel toezicht] (Wft). This Act came into effect on 1 January 2007 and consists of six parts: General, Market Access for Financial Enterprises, Prudential Supervision of Financial Enterprises, Supervision of the Conduct of Financial Enterprises, Supervision of the Conduct of Financial Markets and the Supervision of Clearing and Settlement Systems.

The part on the Supervision of Clearing and Settlement Systems is to be added to the Act at a later date. The part on the Supervision of the Conduct of Financial Enterprises in the Wft contains rules which financial enterprises have to observe when providing their services, such as the rules for informing consumers (transparency) and the financial enterprises’ duty of care.

What are collective investment schemes?

Collective investment schemes are investment companies and unit trusts. The AFM is the licensing body for (the management companies of) collective investment schemes as referred to in the Wft.

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