Is the Statutory Limitation of Liability of the AFM and DNB Contrary to European Union Law?

Is the Statutory Limitation of Liability of the AFM and DNB Contrary to European Union Law?

Is the Statutory Limitation of Liability of the AFM and DNB Contrary to European Union Law?

Section 1:25d of the Dutch Financial Supervision Act (Wft) limits the liability of the Dutch financial supervisors, namely the AFM (the Dutch Authority for the Financial Markets) and DNB (the Dutch central bank), to cases in which the loss or damage is to a significant extent due to intent or gross fault.

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