regulation & supervision

9Street Capital Markets is a registered investment firm, under supervision of Dutch regulator AFM and Dutch central bank DNB. 9Street Capital Markets holds all relevant permits.

AFM supervision

Financial enterprises are covered by the supervision conducted by the Netherlands Authority for the Financial Markets [Autoriteit Financiele Markten] (AFM). This supervision focuses on orderly and transparent financial market processes, integrity of relations between market players and due care in the provision of services to clients.

The supervision of financial enterprises is subject to the Act on Financial Supervision [Wet financieel toezicht] (Wft). This Act came into effect on 1 January 2007 and consists of six parts: General, Market Access for Financial Enterprises, Prudential Supervision of Financial Enterprises, Supervisionof the Conduct of Financial Enterprises, Supervision of Financial Markets and Supervision of Clearing and Settlement Systems. The part on the Supervision of Clearing and Settlement Systems will be added to the Act at a later date.

The Markets in Financial Instruments Directive ('MiFID') has been implemented in the Act. The MiFID has come into effect on 1 November 2007.

The part on the Supervision of the Conduct of Financial Enterprises in the Wft contains rules which financial enterprises have to observe when providing their services, such as the rules for informing consumers (transparency) and the financial enterprises’ duty of care.

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DNB supervision

9Street Capital Markets B.V. is an investment company and thus under the prudential supervision of DNB (De Nederlandse Bank). Prudential supervision consists of financial supervision and supervision of internal operations.

Financial supervision

Article 3:53 section 1 of the Financial Supervision Act (FSA) stipulates that an investment company based in the Netherlands, which offers investment services within the Netherlands, must possess sufficient equity capital. DNB uses certified accounts from the investment company to determine whether it complies with the equity capital requirement established in the prudential regulations Act (art 48 under f, g or h). Further, DNB uses a business plan to evaluate whether the company can continue to fulfill this requirement. 9Street Capital Markets has a strong capital position and comfortably meets the capital requirements of DNB.

Internal operations

Article 4:14 section 1 of the FSA requires an investment company to set up operations so that they guarantee controlled and honest execution of its business activities. DNB has established that the description of operations at 9Street Capital Markets B.V. contains clear procedures that guarantee the investment company will continue to comply with the capital requirements.

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Dutch securities institute DSI

DSI aims to reinforce the consumer’s trust in financial markets by facilitating the personal registration of experts within the world of financial services. These individuals must meet particular requirements in terms of expertise, integrity and work experience. They are then entered into a public register on

DSI also conducts pre and in-employment screening (DSI PES) for employees in other, integrity-based roles and settles investment disputes between different financial institutions or between private investors and financial institutions (in collaboration with Kifid). In addition, they facilitate the Tucht- en Geschillencommissie [Discipline and Disputes Commission] and the Commissie van Beroep [Professional Commission].

DSI’s work focuses on promoting expertise and integrity within the financial services sector. The registered experts are primarily active in the trade, mediation, consultancy and management of financial services and products. The DSI association was created in 1999 on the initiative of the NYSE Euronext Amsterdam. The NYSE Euronext Amsterdam and the branch organisations within the world of finance in the Netherlands continue to provide support for DSI.

9Street Capital Markets is a registered DSI participant.
9Street's employees are DSI registered professionals.

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