COVID-19 tracker: AFM publishes the 2021 annual monitoring agenda
On January 14, 2021, the Dutch Securities and Markets Authority (AFM) published its annual monitoring program for 2021 (in Dutch only), see also its Press release. In its agenda, particularly in connection with COVID-19, the AFM indicates that the COVID-19 crisis has led to an increase in the flow of digital money, including criminal money. The AFM also specifies that the COVID-19 crisis is putting additional pressure on the financial situation of pension funds and insurers. According to the AFM, pension funds should clearly report the consequences to their members. With regard to mortgage lenders, the AFM says the risk of payment problems for households is heightened by the fact that mortgage lenders have an incentive to raise interest rates due to the current crisis conditions and that lenders must be prepared to find a lasting solution for their clients. The AFM will take a closer look at how mortgage companies and loan companies deal with late payments.
One of AFM’s most important activities for 2021 is to investigate the policy and handling of payment issues (including those resulting from the COVID-19 crisis) by providers of consumer credit and mortgage .