In the Netherlands we apply the Twin Peaks model, for which the US Minister of Finance Paulson recently expressed a preference. In this model, we separate market conduct supervision and prudential supervision. The Authority for the Financial Markets (AFM) exercises supervision on the conduct of financial institutions in the market and towards their customers, and DNB targets the solidity of financial enterprises.
Along with the FSB, the G20 also re-created the Global Forum for Transparency and Exchange of Information (referred to as the Global Forum), whose mandate is to perform peer reviews on standards and codes in the area of taxation. These institutions are complimented by the FATF whose responsibility is to enforce standards and codes concerning anti-money laundering and the financing of terrorist activities.