AFM Supervision

In Dutch law, most of the AFM’s supervisory powers are anchored in the Financial Supervision Act (Wet op het financieel toezicht, Wft). In practice, the AFM uses a risk-based toolkit: information requests, file reviews (including investor communications and required filings), thematic investigations and, where relevant, on-site inspections. If deficiencies are found, it can issue formal directions, impose an order subject to a periodic penalty payment (last onder dwangsom) or administrative fines, and publish enforcement outcomes where legally permitted. You can find more information about the AFM through ‘https://www.afm.nl/en/over-de-afm

AIFMD (Directive 2011/61/EU) is the EU’s core framework for managers of alternative investment funds, setting minimum organisational and governance standards (incl. conflicts), formalised risk and liquidity processes, and extensive investor disclosure/ongoing reporting obligations. It also introduces EU-wide concepts around leverage monitoring and supervisory reporting, plus rules on valuation, delegation, and annual reporting. The directive is implemented into national law (often with a “lighter regime” for sub-threshold managers), but the compliance architecture remains AIFMD-based. Primary text: You can find more information about the AIFMD through https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX:32011L0061