Thursday, January 02, 2003

New structure of law on supervision for financial sector

Just at the end of last year, the Ministry of Finance announced its intention to redesign the current financial supervision laws. The goal is now to have a single financial supervision law as of January 1, 2005. This law ('Wet op het financieel toezicht') will be made up of four parts:

- general framework/definitions

- prudential supervision (mostly of credit-institutions),

- compliance with information disclosure rules (behavioural supervision),

- infrastructure of payments and securities systems.