Market consultation initiated by the AFM on product intervention measures aimed at certain Financial Products thereby exercising powers entrusted under a planned new article 56a of an amended Royal Decree under the Dutch Law on Supervision of Financial Undertakings (“Wet op het financieel toezicht”)

By way of this letter, the European Structured Investment Products Association
(EUSIPA) in their capacity as umbrella association for issuers of structured products seeks to outline the position of the industry with regard to aforementioned consultation. (More details on EUSIPA you find at the back end of the document.)

We are highly concerned about the AFM project of limiting the marketing of certain financial products (hereinafter called “marketing ban”) based on a specifically
created new article 56a in the Dutch law on supervision of financial undertakings (“Wet op het financieel toezicht”) and executed by amending the Further Regulation on Market Conduct Supervision (“Nadere regeling gedragstoezicht financiele ondenemingen Wft”) by inserting into section C 2:8 of aforementione  legal act the following: