Dutch govt to regulate bonuses paid to financial advisers

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Finance minister wants to reform the current system of premiums paid to financial advisers and insurance agents selling mortgages and insurances.

21 May 2008

THE NETHERLANDS - The government wants to reform the current system of bonuses and premiums paid to financial advisers and insurance agents selling mortgages and insurances.

Finance Minister Wouter Bos will submit a proposal to parliament intended to ensure that customers know exactly what they are paying for. The government wants to introduce a special agreement between financial institutions and consumers, so that in future it will be clear exactly how much money is paid to agents.
   
At present, banks and insurance companies are already obliged to provide clarity about the costs they charge customers for investment life insurances. Bos wants this system to extend to other financial products that are sold via agents.

[Radio Netherlands / Expatica]

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