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13 February 2020 Supervision Supervision label Factsheet

The Policy Rule on Fitness 2012 (Policy Rule) clarifies what the supervisor understands by ‘fitness’ and which aspects are taken into account in assessing the fitness of a policymaker. The Policy Rule also clearly states when policymakers must or can be assessed and what information and antecedents the supervisor takes into account in such an assessment.

Recent changes

On 12 December 2019 the Policy Rule was amended following changes in European and national laws and regulations and the entry into force of European guidelines. This amendment does not amount to a full revision and does not change the existing assessment policy of DNB and the AFM, nor the scope or target group of this assessment policy other than as a result of the legislation.

Market operators had an opportunity to respond to the intended changes between 26 June and 1 September 2019. The feedback statement below sets out the key points from the responses received as well as comments from DNB and the AFM on these responses. The amendments to the Policy Rule are set out in the Amending Decree of 12 December 2019 below. The amended Policy Rule was published in the Government Gazette on 14 January 2020 and came into force on the day following publication. The amended Policy Rule can also be viewed (in Dutch) at www.wetten.nl.

Documentation

Relevant to:

  • Banks
  • Insurers
  • Investment firms
  • Pension funds
  • Premium Pension institutions
  • Trust offices