← Back to regulators

🇳🇱Netherlands · EU member

Autoriteit Financiële Markten

AFM · Financial supervisory authority
Amsterdamwww.afm.nl
Compare with another regulator
Activity Index
80/ 100
ActiveMethodology →

FY2025 · as of 31 December 2025Published figures unless marked

Employees839FTE, year-end
Annual budget€154.9mrealised supervision costs
Supervised entitiesSee the breakdown belowFY2025

Overview

The AFM is the Dutch conduct authority, supervising financial services, capital markets, asset management and the audit sector in one of Europe's most internationalised financial marketplaces. It became the Netherlands' MiCA authority for crypto-asset service providers in 2025, handling 36 CASP applications and notifications in the regime's first year and granting 15 MiCAR licences plus 3 notifications. Across all sectors it granted 375 licences, ran 2,284 fit-and-proper assessments and collected €16.7 million from formal enforcement measures, while producing the first official estimate of Dutch investment fraud: roughly €750 million a year. Everything below is the AFM's own data, from its FY2025 annual report.

Regulated sectors

5
Investment firmsAsset managersCrypto-asset service providersSecurities marketsConsumer lending

Figures as published by Autoriteit Financiële Markten for FY2025. Source: AFM Jaarverslag 2025 (Dutch) (Published spring 2026). Data as of 31 December 2025. Supplementary: AFM jaaroverzicht 2025 (interactive annual overview).

Leadership

4
Laura van Geest

Chair of the Executive Boardsince 2020

Hanzo van Beusekom

Executive Board membersince 2018

Jos Heuvelman

Executive Board membersince 2018

Marije Lely

Executive Board membersince 2025

Full board

Organisation (FY2025)

Staff — FTE, year-end
8392024: 772; 2023: 697. Year-end budget was 843 FTE; inflow 138, outflow 72
Realised costs
€154.9mBudget €165.9m; 2024: −€13.2m under. Industry-funded under the Wbft cost framework
MiCAR share of 2025 cost framework
€3.4m
DORA share of 2025 cost framework
€0.3m

Licensing 2025

Licences granted — total
375Financial services 311 · asset management 30 · audit 16 · crypto parties 18
CASP applications & notifications handled
36
MiCAR CASP licences granted
15Plus 3 notifications completed; several applications still pending at year-end
Financial-service-provider licence withdrawals requested
552
FSP applications not leading to a licence
34
Fit-and-proper assessments
2,284Of which crypto-related: 64 (all new in 2025); ~95% of initial assessments positive

Enforcement 2025

Formal enforcement measures
252024: 30. Incl. 8 fines, 4 instructions, 5 public warnings, 1 licence revocation, 2 criminal referrals
Amount collected from formal measures
€16.7m
Informal measures
4462024: 427; incl. 119 boiler-room warnings
Market-abuse investigations
18 opened, 23 concludedSTORs up 22% year-on-year
Consumer / business contact moments
14,504+1,742 vs 2024

Notable 2025

MiCA authority for the Netherlands
The AFM became the Netherlands' MiCA CASP authority in 2025 as DNB's registration regime ended. The Dutch transitional regime closed early on 30 June 2025 — a full year before the EU-wide deadline.
First official estimate of investment fraud in NL
~€750m per year — a multiple of previously registered figures. AFM issued 119 boiler-room warnings, taking half the flagged websites offline.
Estimate
New teams built
For MiCAR, DORA, CSRD and the pension transition — while closing FY2025 €11m under budget.
Board seats
AFM sits on the boards of both ESMA and IOSCO.

Key legislation

3
Wet op het financieel toezicht (Wft)

Financial Supervision Act — foundational

Wwft

AML Act

Uitvoeringswet MiCA

MiCA implementation Act

Registers, portals and publications

Recent publications

AFM Jaarverslag 20252026-04-15
Data as of 31 December 2025 · Source: www.afm.nl + ComplyBridge researchActivity Index methodology →