Just one in five people thinks the Dutch financial services sector is well-organised and only a similar proportion think the sector is properly supervised, according to the AFM’s 2013 report.

‘The crises have given consumer confidence a severe knock,’ the regulator said. ‘In 2008, 46% thought the sector was well-organised.’

The AFM’s new chairwoman, Merel van Vroonhoven, told the Financieele Dagblad the lack of consumer confidence is worrying. This is partly because ‘undesirable incidents’ continue to take place, she said.

These include the recent Libor interest rate fixing scandal involving Rabobank and the failure of accountants to properly check financial reporting and judge risks, Van Vroonhoven said.