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DUTCH SUPERVISORY AUTHORITY: Dutch regulators strengthen supervision of digital activities through increased cooperation

DUTCH SUPERVISORY AUTHORITY: Dutch regulators strengthen supervision of digital activities through increased cooperation

The Dutch Data Protection Authority (DPA), the Dutch Authority for Consumers and the Market (ACM), the Dutch Authority for Financial Markets (AFM) and the Dutch Media Authority (Commissariaat voor de Media) will work together to strengthen the supervision of digital activities. This is why they have started the Cooperative Platform for Digital Supervision (SDT).

Today’s society is one of the most digitised in Europe. In this digital world, personal data protection, consumer protection, digital content integrity and awareness are much more intertwined than in the past. So the various supervisory bodies are more likely to meet you at work. In addition, new European rules may lead to obligations for companies that relate to more than one regulated party. Cooperation is very necessary.

The digital landscape is developing rapidly and is increasingly shaping the way people work and live. In addition to the economic and social benefits, this brings new issues and risks that call for action by regulators. A coherent and coordinated approach is necessary to respond effectively to the rapid pace of new developments.

This is in the interest of both users and providers of digital services.
It is important that supervisors have a clear idea of where the public interests being monitored extend or conflict with each other. If we coordinate supervisory roles together, it also creates clarity and predictability for businesses and consumers. In addition, it is a great advantage that by working together we can use the awareness and expertise of our people in the world as effectively as possible.
The AFM has been paying particular attention to the digitalisation of financial markets for some time now. Part of this is the structural use of data from financial institutions in our supervision. We can see ever new forms of financial services, which not only offer opportunities, but carry risks that overlap with the supervision of all. In this context, the further intensification of cooperation with other regulatory authorities, in addition to the various international forums in which the AFM participates, is appropriate, as announced today.

Within the SDT, regulators cooperate by exchanging awareness and experiences in supervisory practice on topics such as artificial intelligence, algorithms and data processing, online design, personalisation, manipulation and spoofing. They also want to jointly invest in awareness, experience and competences. In addition, the Supervisory Authorities are examining how they can jointly reinforce each other in enforcement procedures, for example by jointly tackling problems in the digital marketplace.


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