What professional competence requirements apply in the Caribbean Netherlands?
All persons employed in the financial sector in the Caribbean Netherlands have to meet professional competence requirements. They must in any case have completed a training provided by the financial enterprise or a third party or have equivalent experience. Persons in actual management roles at advisory and brokerage firms must have obtained a recognised diploma.
If a borrower fails to pay interest or repayment on their loan or fails to pay in time, a credit provider may impose a charge for this. This is known as an arrears charge. The amount of this charge is capped at the same amount as the cost of the credit (APR). The maximum amount is set annually. More information and an example of the calculation you can find via the link below.
The Financial Markets (BES) Act (Wet financiële markten BES) prohibits the provision of specific services. Without holding a licence issued by DNB, you are for instance prohibited from starting a bank, performing money transfers, or offering insurance services. Operating as a trust office is also prohibited without a licence.
The AFM maintains continuous supervision in the Caribbean Netherlands on the basis of signals and relevant market developments. We also organize part of our work thematically. Among other things we will pay attention to the consequences of Hurricane Irma and the costs of credit in 2018. Please read the newsitem with all information about the focus in 2018.
The AFM will issue the Market Monitor again in early 2018. The Market Monitor is a digital questionnaire for banks, credit associations, credit providers, insurers and intermediaries. The AFM uses the information provided to improve its understanding of the market so that it can focus its supervision more closely on risks and trends in the market or developments at individual enterprises 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.
The AFM will issue the Market Monitor again in early 2018. The Market Monitor is a digital questionnaire for banks, credit associations, credit providers, insurers and intermediaries. The AFM uses the information provided to improve its understanding of the market so that it can focus its supervision more closely on risks and trends in the market or developments at individual enterprises in the Caribbean 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.
