The AFM and DSI have extended their agreement on professional competency. This agreement, in place since 2018, focuses on employees who provide investment advice or information. The extension is tacit and valid for two years, with no changes to the content.
“The extension of this agreement highlights the importance of professional competency in the investment sector,” says Floris Mreijen, Managing Director of Stichting DSI. “It reinforces our shared commitment to ensuring quality service in the sector. By joining DSI, organizations can rely on us to take care of compliance requirements.”
DSI-Certified professionals are demonstrably competent
The agreement aligns with MiFID II requirements and guidelines from the European regulator ESMA. These standards stipulate that relevant persons—employees who inform or advise on investments—must be demonstrably and continuously competent. The AFM views competent personnel as essential for careful customer treatment and high-quality services in the investment sector.
“We are very pleased with the continuation of this agreement,” Mreijen continues. “DSI certifications are an industry initiative aimed at building trust. The AFM’s recognition confirms the quality and added value of DSI registration.”
Always up-to-date with ‘Continuing Professional Education’
Under the agreement, the AFM and DSI have stipulated that only individuals meeting ESMA guidelines are eligible for inclusion in the DSI ESMA registers. After registration, professionals are required to maintain their knowledge. DSI supports this through the ‘Continuing Professional Education’ program, based on annually updated learning objectives. Training providers develop their programs based on these objectives, ensuring that certified professionals continuously meet the required standards.
The AFM acknowledges that professionals listed in the DSI ESMA registers meet competency requirements. Currently, approximately 4,100 professionals are certified in one of DSI’s seven ESMA registers.
Broad responsibility for organizations
For financial institutions, DSI registration demonstrates that their employees are competent. However, ESMA guidelines also impose broader organizational requirements, such as implementing internal policies and procedures and ensuring employees adhere to them.
DSI registration is not mandatory. Organizations opting not to register with DSI can demonstrate their employees’ competency directly to the AFM. However, the DSI-AFM agreement simplifies compliance with ESMA guidelines for businesses in the sector. Most organizations subject to ESMA guidelines are affiliated with DSI.
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