Newsletter for financial enterprises in the Caribbean Netherlands
This is the English newsletter for financial enterprises on Bonaire, Sint Eustatius and Saba. If you prefer reading the newsletter in Dutch please click on the link below.
The AFM notes that various insurers are paying very high commissions for fixed term life insurance to intermediaries. This is not in the customer’s interest. Commissions will be reduced in 2018 after intervention by the AFM, so that the premiums for life insurance will also become lower for customers. Further information on commissions is available on the AFM website.
What should you do if someone asks for a consumer loan and a mortgage at the same time?
The answer to this question is given on the new frequently asked questions under the heading Maximum Lending. Here you will also find FAQ's on licensing.
In early 2017, the AFM noted a number of advertisements for credit that did not comply with regulation. If the costs of a loan are stated (such as an APR or a monthly instalment), the advertisement must also include a credit table (see Section 7.4 Bfm BES - in Dutch only). Please check your advertisements and make sure that they comply with regulation. If the AFM sees further advertisements that do not comply, it will contact the credit provider concerned and may take formal measures.
DNB is devoting additional attention to transaction monitoring this year. An adequate transaction monitoring process enables financial institutions in the Caribbean Netherlands to effectively combat the risks of money laundering and the financing of terrorism. In past years DNB has focused on client integrity. Further information on this statutory requirement is available on the website of the DNB in the Caribbean Netherlands.
Would you like to receive this newsletter or another AFM newsletter automatically? Then click on the link. Note that all our newsletters except the newsletter for the Caribbean Netherlands are in Dutch only.
The AFM is committed to promoting fair and transparent financial markets. As an independent market conduct authority, we contribute to a sustainable financial system and prosperity in the Netherlands.
If you have any questions with regard to this newsletter, please send an email to 
Would you like to receive this newsletter or another AFM newsletter automatically? Then click on the link. Note that all our newsletters except the newsletter for the Caribbean Netherlands are in Dutch only.
