The AFM and the DNB have published a number of principles (in Dutch) for the remuneration policy of financial enterprises. The supervisory bodies will actively control how enterprises apply these principles within their organisations. The principles are intended to combat the incentives that may cause undesirable and irresponsible risk-taking.
The principles apply to all financial enterprises and pension funds that fall under the supervision of the AFM or the DNB pursuant to the FMSA, the Pension Act (Pensioenwet) or the Obligatory Occupational Pension Schemes Act (Wet verplichte beroepspensioenregeling). They are applicable to employees and directors whose remuneration has, or may have, a significant variable component.
In a letter (in Dutch) to the Second Chamber, the Minister of Finance, Mr Bos, provided further clarification on the principles and how the AFM and the DNB can ensure the remuneration policy is upheld. Mr Bos also writes that the controlled remuneration policy will be clearly and specifically implemented in the FMSA. He anticipates presenting a proposal to the Second Chamber of Parliament in the near future.