Kingdom of the Netherlands-Netherlands: Financial Sector Assessment Program:: Technical Note-Securities Supervision-Selected Issues Regarding the Regulators, Auditor Oversight, and Collective Investment Scheme Management
IMF Staff Country Reports, April 13, 2017
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- Kingdom of the Netherlands-Netherlands: Financial Sector Assessment Program:: Technical Note-Securities Supervision-Selected Issues Regarding the Regulators, Auditor Oversight, and Collective Investment Scheme Management
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Bibliographic details
- Published: April 13, 2017
- Series: IMF Staff Country Reports
Executive summary and scope
- This Technical Note discusses the findings and recommendations of the Financial Sector Assessment Program for the Netherlands regarding auditor oversight, collective investment fund management, and regulatory issues.
- The legal regime and the day-to-day supervision activities conducted by the Netherlands Authority for the Financial Markets and the Dutch central bank are described as extensive and consistent with international expectations.
- The approach to the supervision of the small but growing crowd-funding sector strikes a fair balance between enhancing innovation and protecting investors.
- The Dutch regime for audits and auditor oversight complies with the expectations of the International Organization of Securities Commissions and appears to work well in practice.
Key findings on supervisory framework
- The legal regime and routine supervision activities by:
- Netherlands Authority for the Financial Markets
- Dutch central bank
are extensive and consistent with international expectations.
- Supervision of the crowd-funding sector:
- Characterized as small but growing.
- Regulatory approach balances innovation and investor protection.
Auditor oversight and audit regime
- The Dutch regime for audits and auditor oversight:
- Complies with the expectations of the International Organization of Securities Commissions.
- Appears to work well in practice.
- Subject coverage includes:
- Audit standards and procedures
- Auditing and compliance audit
- Audit client and audit firm relationships
- Quality-control system and risk management
Collective investment scheme management
- Focus areas include:
- Collective investment fund management and fund managers
- Mutual funds, UCITS fund, open-end fund, unit trust
- Management company operations and investment fund oversight
- Keywords linked to this theme: fund manager, investment fund, mutual funds, open-end fund, UCITS fund, unit trust.
Thematic subjects and keywords (as listed)
- Audit standards and procedures, Auditing, Compliance audit, Financial institutions, Financial sector policy and analysis, Financial sector stability, Mutual funds, Public financial management (PFM)
- Keywords: audit client, audit firm, Audit standards and procedures, Auditing, business operation, Compliance audit, CR, Europe, Financial sector stability, fund manager, Global, investment fund, ISCR, management company, Mutual funds, open-end fund, quality-control system, risk management, UCITS fund, unit trust
Content in this bundle
- Country Report