Publication Mortgage Credit Directive
On 5 December 2013 the Financial Markets Amendment Act 2014 has been published in the Dutch Bulletin of Acts and Decrees. This Act amends the Financial Supervision Act (‘Wft’). Important is supervision on clearing and settlement institutions, the introduction of a general duty of care for financial services providers and a commission ban for investment firms, who provide their services to private investors. These amendments shall enter into force as from 1 January 2014.
The Financial Markets Amendment Decree 2014 has been published in the Dutch Bulletin of Acts and Decrees on 17 December 2013. The Decree contains amongst other things a commission ban for investment firms. The ban shall apply as from 1 January 2014 and applies to asset management, investment advice and execution only services to private investors.