BeFrank is governed by the laws of the Netherlands. Supervision of financial institutions in the Netherlands is regulated in the Financial Supervision Act (Wet financieel toezicht, Wft). The Act regulates supervision of all financial institutions in the Netherlands, and sets high standards for professional conduct, integrity, financial reliability and transparency. BeFrank is compliant with all the rules stipulated by the Act.
BeFrank PPI N.V. is licensed as a premium pension institution by De Nederlandsche Bank (DNB) and is supervised by DNB and the Financial Markets Authority (AFM). BeFrank N.V. is licensed as an investment business by the AFM and is supervised by the AFM and DNB.
We consider it highly important that the activities of BeFrank are carried out with integrity. Personal integrity is of course an essential part of this. BeFrank PPI supervises compliance with the relevant legislation and regulations by all employees of BeFrank. The Financial Supervision Act (Wft) and the Pensions Act (PW) are the primary focus in terms of implementation and proper operation of our duty of care. The compliance officer performs regular random compliance checks, either on his own initiative or on the instructions of the management.
The following internal regulations and rules apply to BeFrank staff: