The AFM and DSI Foundation have made agreements to safeguard the ESMA guidelines for knowledge and professional competence, which DSI puts into practice through certification and continuing education. But what exactly do these guidelines entail and to whom do they apply?
Protecting investors and financial stability
What are ESMA’s objectives?
The European Securities and Markets Authority is an independent body based in Paris. ESMA’s role can be divided into three distinct objectives. Starting with investor protection. Meeting within the needs and rights of investors without neglecting responsibilities. The second objective focuses on creating orderly markets. Promoting a market with integrity, transparency, efficiency and soundness. Finally, ESMA strives for financial stability. Ensuring that the consequences of any shocks and imbalances have the least possible impact on the financial system. Including promoting economic growth.
What does the ESMA activity plan entail?
To ensure that ESMA can achieve its goals, they have a four-part activity plan:
- Keeping investors informed around risks, markets and financial market.
- The introduction of a single rulebook.
- Create consistency and efficiency among supervisory practices.
- And lastly, controlling certain financial bodies.
At DSI, we are primarily concerned with MIFID II. These rules are aimed at creating an efficient and transparent European financial market and investor protection.
“Certificates from 7 DSI registries comply with ESMA guidelines”
Covenant between AFM and DSI
DSI registers compliant with ESMA guidelines.
Within the Netherlands, the AFM is the national regulator. This means that in their supervision of the financial market, they apply the guidelines. DSI and the AFM have signed a covenant together, in which they both take responsibility for guaranteeing the knowledge and professional competence of relevant persons. Because we as DSI guarantee the guidelines, it should be easier for professionals to comply with them.
The role of DSI
DSI ensures that certified professionals who inform or advise on investment meet the requirements of the guidelines as a minimum. A broad committee consisting of experts and experience experts from the financial sector has been appointed to draw up final attainment levels. Based on these final attainment levels, exams have been created that must be taken to qualify for DSI certification.
DSI registers compliant with ESMA guidelines.
Therefore, if you are DSI-certified under one of the registers below, you can assume that you demonstrably meet the requirements of the ESMA guidelines:
