DNB and the Netherlands Authority for the Financial Markets (AFM) are holding a consultation on a joint policy guideline concerning expertise. The purpose of the policy guideline is to clarify the expertise requirements imposed by DNB and the AFM when they assess the suitability of policymakers in companies that fall under the AFM’s or DNB’s supervision. After the Financial Markets Amendment Act 2011 enters into force, members of supervisory bodies of regulated companies will also become subject to the expertise requirements.
The new policy guideline is to become effective on 1 January 2011. The consultation ends on 31 October.