Financial Market Auth. chair resigns

George Möller resigned overnight from the Netherlands Authority for the Financial Markets, the regulator announced in a statement. The 67-year-old was Chairman of the Supervisory Board at the AFM since New Year’s Day, 2010. The resignation follows staunch criticism of the AFM from Finance Minister Jeroen Dijsselbloem, who called for stricter internal supervision at the market regulator. Minister Dijsselbloem said that while no rules were violated at the AFM, commissioners walked a razor’s edge and jeopardised the regulator’s independence. Möller called the criticism disproportionate, and told the Financieele Dagblad he thought the report was biased. He was appointed to a full four-year term in September 15, 2011. His immediate resignation is over eight months before the term expires. “The AFM respects the decision of Mr. Möller and is very grateful to him for his commitment to the AFM on the supervisory board,” the regulator said in a statement. “The AFM hopes that the board returns to full strength in the short term.” After much of the Supervisory Board was wiped out in the wake of the Finance Minister’s criticism, only one member now sits on the board, Diana van Everdingen.