The abbreviation AFM stands for The Dutch Authority for the Financial Markets. The AFM is the supervisory authority for the conduct-of-business supervision of the financial markets. The AFM works together with DNB, in which context the AFM supervises the conduct of financial enterprises, and DNB checks whether the financial enterprises can meet their financial obligations. In addition, DNB supervises the integrity of banks and insurers. The AFM supervises the integrity of advisers and intermediaries. Both are independent.
Some enterprises, such as banks and insurers, fall under the supervision of both the AFM and that of DNB, whereas some enterprises fall under only one of the supervisors. Thus advisers and intermediaries only fall under the supervision of the AFM, and trust offices only under the supervision of DNB.