Financial services regulator resigns

Tuesday 07 August 2007

A top executive of the financial services regulatory body AFM, Anne Willem Kist, has resigned. Kist says he can no longer carry out his responsibilities in light of doubts concerning the management of his personal investment portfolio.

In a statement issued on Monday, Kist said that he had transferred the management of his stocks and shares to an asset manager in June and this had led to a restructuring of his investment portfolio.

Although he was not involved in this process, Kist said he was unable to prove that he had had not traded in individual shares which is forbidden for AFM employees.

The AFM said it respects Kist’s decision although it regrets his departure. A spokeswoman said that Kist’s integrity was not under discussion.

Kist joined the AFM in June 2005 and was one of its three board members.

© DutchNews.nl

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