Frequently asked questions ban on inducements for investment firms - General

Frequently asked questions - Ban on inducements for investment firms- General

What does the ban on inducements for investment firms cover?

The ban on inducements applies to investment services provided to retail investors. In principle, it covers all fees and commissions paid or received by investment firms, including kick back fees, lead commissions and return commissions. Fees for primary transactions are not covered by the ban on inducements.

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What is the definition of investment firms according to the ban on inducements?

Investment firms are companies that offer investment services, such as independent investment managers, investment advisers, private banks and trading houses.

(In Dutch only)

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Who is subject to the ban on inducements?

The ban on inducements applies primarily to Dutch investment firms. In practice, it means in general that these firms may no longer receive or pay return commissions, kick back fees and lead commissions. The ban also applies to foreign companies with a branch office in the Netherlands that provides investment services.

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When will the ban take effect?

Return commissions and lead commissions will be banned with effect as of 1 January 2014. The most important kick back fees will be banned as of 1 January 2015, and are subject to a transitional arrangement in 2014.

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