Minister Bos of Finance has informed the Second Chamber of parliament on the remuneration policy of financial enterprises (in Dutch) In his letter he addresses the powers of the Dutch Central Bank and discusses a number of measures:
- The Banking Code took effect on 1 January. The Cabinet aims to create a statutory basis for the Code.
- The Dutch Central Bank will publish the principles for a controlled remuneration policy of 6 May 2009 in the form of a policy guideline.
- The controlled remuneration policy will have a further basis in the Decree on Conduct of Business Supervision of Financial Undertakings FMSA. This should give the AFM a concrete and wide basis for supervision and enforcement with regard to all relevant financial undertakings and financial products, regardless of the distribution channel used. The Minister of Finance furthermore intends to add to the Decree on Prudential Rules FMSA explicit and specific rules in respect of controlled remuneration policy. He will shortly submit this issue to the market for consultation.
In addition, the AFM and the Dutch Central Bank have asked parliamentary questions on their powers and opinions regarding the remuneration policy of financial enterprises.