On 20 December 2017, the Financial Markets (Amendment) Act 2018 (Bill) was presented to the Lower House of Parliament. This Bill provides, inter alia, that the Dutch Authority for the Financial Markets (AFM) may exchange confidential data and information obtained under the Financial Supervision Act (Wft) with the Netherlands Authority for Consumers & Markets (ACM). If the Bill is adopted, this will mean that the AFM will be able to share on a larger scale with the ACM confidential data that it has collected in the context of its supervisory duties. The ACM can then use these data to take enforcement action against the interested party in the event of a violation of the Consumer Protection (Enforcement) Act.
The full blog post is written in Dutch.
Date: 21 March 2018
Author: Christien Saris