The Netherlands Authority of Financial Markets (AFM) monitors the financial markets: saving, investing, insuring, pensions and loans. It is important there is confidence in the financial markets. And for the markets to work in a clear and honest manner. It is not obliged for enterprises to own a license. If an enterprise doesn't fulfil its obligations, it will be noted in the registers of the AFM. If an enterprise does fulfil its obligations, but doesn't own a license, it has to report this to its manifestations by an AFM banner.