Regulatory Alerts2026-05-08
Research: DSI Covenant on Professional Competence of Investment Professionals Efficient and Effective
The Dutch Authority for the Financial Markets (AFM) issued this final evaluation report on its covenant with DSI regarding the professional competence of investment professionals, concluding that the system is overall efficient and effective but contains structural vulnerabilities. The report highlights significant free-riding by financial institutions, market consolidation among training providers, and misalignments between training/exam content and practical needs, which threaten long-term system stability. It recommends that the AFM and DSI closely monitor free-riding, improve information exchange with training providers, and systematically track customer satisfaction to inform the negotiation of a potential new covenant.
Share