Financial Supervision Act

On 1 January 2007, the Financial Supervision Act (Wet op het financieel toezicht / Wft) and the Wft Implementation and Amendment Act (Invoerings- en aanpassingswet Wet op het financieel toezicht / I&a-wet Wft) came into force.

The Wft, as it came into force on 1 January 2007, consists of seven Parts and three Annexes. In addition, various Orders in Council have been made as well as a number of ministerial orders and decrees. Finally DNB itself has also drawn up a number of supervisory rules.

The Intervention Act assigns new powers to DNB and the Minister of Finance, permitting early intervention if a financial corporation is encountering problems.