Does the AFM’s supervision include supervision of the disclosure of other positions of supervisory board members in the annual financial report?
Based on the Dutch Corporate Governance Code (the Tabaksblat Code) companies must disclose other relevant positions of the supervisory board members in their annual financial reports. The role of the AFM is limited to verifying whether companies apply the Code in their annual reports or give an explanation in case they do not apply the Code. In addition, the AFM verifies whether the content of the annual financial report is consistent with other public information. The AFM does not judge the quality of the governance of companies. If specific transactions (such as acquisitions and important deals) take place information on other relevant positions of the supervisory board members is important for investors.
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