An act strengthening the governance of DNB and the AFM entered into force on 16 February 2012. The key changes are:
- Establishment of a Supervisory Chairman at DNB and of a financial institutions supervisory council
- Widening of the statutory duties to be carried out by the supervisory boards of DNB and the AFM
- Limitations in respect of reappointment of managing directors of the AFM and DNB
- Introduction of profiles and an integrity and suitability test for both the DNB and the AFM's managing and supervisory directors
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
