The AFM and DNB have submitted for consultation a joint policy guideline on the expertise of managing and supervisory directors. The aim 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 their supervision and to explain the aspects considered as part of the assessment. The policy guideline applies to entities which are either supervised by DNB or by the AFM or subject to joint supervision. The expertise requirement will also become applicable to members of supervisory bodies, e.g. supervisory directors. The effective date proposed is 1 January 2011. The consultation ends on 31 October 2010.