Dutch financial regulator the AFM said on Friday that the Uitvoeringswet AI-verordening, the Netherlands’ implementing bill for the EU AI Act, is workable in principle but needs targeted adjustments for effective supervision.
In its execution assessment and consultation response, the AFM flagged concerns about how oversight tasks would be split between itself and Dutch central bank DNB. The regulator said the competence allocation should make both authorities, each from their own mandate as conduct and prudential supervisor, responsible for supervising prohibited AI practices and high-risk requirements.
The AFM identified new supervisory duties it expects to take on, including oversight of banned AI uses, consumer transparency obligations, and high-risk applications such as credit assessment and insurance pricing.
Effective supervision depends on several conditions being met, the AFM said: sufficient capacity, clear enforcement powers, workable data-sharing arrangements, and a confidentiality regime aligned with the existing Dutch financial supervision law (Wft).
The Dutch implementing bill, published for consultation in April, builds a hybrid model around ten existing market supervisors. Parts of the EU AI Act are already applicable, with further obligations taking effect in August 2026 and August 2027.
