Netherlands Authority for the Financial Markets
| Autoriteit Financiële Markten | |
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| Agency overview | |
|---|---|
| Formed | March 2002 |
| Superseding agency |
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| Jurisdiction | Kingdom of the Netherlands |
| Headquarters | Amsterdam, Netherlands |
| Employees | 300 |
| Agency executive |
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| Website | http://www.afm.nl |
The Netherlands Authority for the Financial Markets (Dutch: Autoriteit Financiële Markten) is the financial services regulatory authority for the Netherlands. Its role is comparable to the role of the SEC in the United States.
The Netherlands Authority for the Financial Markets was set up on 1 March 2002 as the successor to the Securities Board of the Netherlands (Dutch: Stichting Toezicht Effectenverkeer - STE). As part of the legislation that created the AFM, its responsibilities were greatly expanded to cover all financial products, including savings, investments, loans, insurance and accounting.
The AFM falls under the political responsibility of the Minister of Finance but is an autonomous administrative authority, which means that the AFM operates autonomously based on the powers given by the Minister of Finance.
The Netherlands Authority for the Financial Markets is the body responsible for regulating behaviour on the financial markets in the Netherlands. This includes regulating the behaviour of all parties involved with the savings, loans, investment and insurance markets. It includes regulating all organisations that provide financial products and those that issue products, including .
The AFM has the following three aims:
The public, the business sector and the government all depend on the financial products offered on the various markets for many of their activities. Confidence in the orderly and honest operation of these markets is therefore crucial.
The AFM works in conjunction with the De Nederlandsche Bank which is responsible for prudential regulation in the Netherlands.
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