Financial Supervision Act

Act 2007

Wet op het financieel toezicht (Wft)

Effective: 1 Jan 2007

Last amended: 26 Sep 2026

Plain-English summary

The Financial Supervision Act (Wft) is the basic Dutch law regulating all aspects of financial markets, organizations, and consumer protection in the Netherlands. It has been in effect since January 1, 2007. This act amalgamated sector-specific laws into one legislative tool and introduced the "twin peaks" regulatory model with separate regulators: De Nederlandsche Bank (DNB) regulates prudential stability and the financial soundness of organizations, whereas Autoriteit Financiële Markten (AFM) regulates the conduct of the market and consumer fairness. The act requires financial organizations to have strict licensing procedures, screening of directors for reliability, and duty-of-care obligations. The last revision of the law occurred on September 26, 2026, as the act adapted the CRD VI directive of the European Union, reinforcing prudential supervision of banks and third-country branches, along with significant changes in consumer protection in 2026, mandating pre-contractual information and an easy online withdrawal option for digital financial services.

Who it applies to

Banking · Insurance · Capital Markets · Payments & Fintech

Topics

Prudential & Capital Conduct & Consumer Protection

Official source

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