Legislation currently in force provides no special liability regime for financial supervisors. Their liability is assessed on the basis of the general liability rules of the Dutch Civil Code. The government believes that for DNB and the AFM to duly carry out their supervisory roles, an explicit statutory limitation of liability is needed. A bill to that effect was recently submitted to parliament. Under the bill, liability is limited to wilful misconduct and gross negligence. This creates a higher liability threshold for financial supervisors without completely excluding recourse by injured parties.
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