Kingdom of the Netherlands-The Netherlands: Financial Sector Assessment Program- Technical Note on Securities Regulation and Supervision
IMF Staff Country Reports, June 18, 2024
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- Kingdom of the Netherlands-The Netherlands: Financial Sector Assessment Program- Technical Note on Securities Regulation and Supervision
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Bibliographic details
- Published: June 18, 2024
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9798400280146.002
Summary of scope and context
- Technical note on securities regulation and supervision in The Netherlands.
- Notes that regulation of securities and derivatives markets in the European Union (EU) has changed materially since the last Netherlands Financial Sector Assessment Program (FSAP), with further reforms underway.
- Observes that the securities market landscape in the Netherlands has changed markedly since the last FSAP, largely in response to Brexit.
- States that the Netherlands is now of EU-wide significance in relation to the trading of securities, particularly equities, which has brought challenges for the national authorities.
Key findings
- The established trading venues are growing and diversifying their offerings.
- New “fintech” entrants with business models that combine trading and post-trading operations in new ways are emerging on the horizon.
- The expansion and diversification of the market have created supervisory challenges for the Autoriteit Financiële Markten (AFM).
- A continuing focus on trading system operational resilience is needed.
Policy implications and recommendations
- Enhancements to the legislative framework are needed to ensure that the Autoriteit Financiële Markten can:
- Continue to supervise efficiently and effectively an expanded and more diverse market.
- Engage credibly with international counterparts.
- Authorities should prioritize further enhancements of their supervisory approach to address market growth, diversification, and fintech entrants.
- Maintain and strengthen measures focused on trading system operational resilience.
Subject areas and keywords (as provided)
- Subject: Asset and liability management; Financial derivatives; Financial institutions; Financial regulation and supervision; Financial Sector Assessment Program; Financial sector policy and analysis; International organization; Liquidity; Liquidity management; Liquidity risk; Monetary policy.
- Keywords: Europe; Financial derivatives; Financial Sector Assessment Program; Global; Liquidity; Liquidity management; Liquidity risk; managers directive; markets authority; money market funds; trading obligation; trading venue.
Publication metadata (as provided)
- Pages: 39
- Volume: 2024
- Issue: 173
- Series: Country Report No. 2024/173
- DOI: https://doi.org/10.5089/9798400280146.002
- Stock No: 1NLDEA2024009
- ISBN: 9798400280146
- ISSN: 1934-7685
- Publication date: June 18, 2024
Source: Kingdom of the Netherlands-The Netherlands: Financial Sector Assessment Program- Technical Note on Securities Regulation and Supervision (IMF Staff Country Reports).
Content in this bundle
- Technical Note on Securities Regulation and Supervision; IMF Country Report No. 24/173; May 28, 2024