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Complying with duty of care

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As a financial organization, you have a duty of care towards your customers. You must conduct yourself with care, as may be expected of a reasonably competent and reasonably acting professional. The most important thing here is to put the customer’s interests first. Your services must be appropriate to the customer’s situation, and the customer must be well protected when acquiring financial products and services.

The Autoriteit Financi├źle Markten (AFM) regulates┬áthe duty of care in The Netherlands. If the duty of care is insufficiently fulfilled, the AFM can take enforcement action. In order to avoid fines and damage to your image, it is therefore important to comply with your duty of care.

Charco & Dique offers legal support to financial organizations. You can contact us for legal advice on the application or interpretation of certain financial supervisory legislation, including the duty of care.