Complaints procedure
Code of conduct
FORUMVAST Belangenvereniging Aanbieders Vastgoedbeleggingsproducten
Holland Immo Group is a member of the sector association for offerers of non-listed property investment products: FORUMVAST Belangenvereniging Aanbieders Vastgoedbeleggingsproducten.
This sector association focuses primarily on representing the interests of its members. An important focal point is to act as a mouthpiece towards AFM (Netherlands Authority for the Financial Markets) and STV (Stichting Transparantie Vastgoedfondsen, a foundation that aims to improve transparency in the property market) in the area of regulatory legislation and statutory or other guidelines for prospectus review. Forumvast is not a quality mark for offerers and does not present itself as such either. This is the exclusive domain of other stakeholders in the sector, such as STV when it comes to prospectus review or other initiatives in order to realise an independent rating institute for property investment products. As a result, there is a clear distinction in the market between the association as a representative of a sector-wide group of offerers on the one hand and independent authorities that test products, organisations or persons on the other hand.
FORUMVAST applies the model code of conduct of STV as a format for its members. The code of conduct also includes a complaints procedure with a possibility of appeal to an independent authority such as Kifid: the Financial Services Complaints Board.
Holland Immo Group* commits itself to the code of conduct and is registered with Kifid.
Kifid is an independent point of contact for the settlement of disputes between consumers and financial service providers that consumers and financial service providers can turn to since 1 April 2007. As of this date, every bank, insurance company, intermediary or other financial service provider is obliged to register with Kifid. The members are included in a public register.
In the event of a conflict, consumers have the option of going to court. Kifid provides an attractive alternative. The Financial Services Ombudsman who is employed at Kifid tries to find a solution in consultation with the financial service provider and consumer in question as soon as possible. If that is not possible, the disputes committee can give a binding opinion on the matter.
* The two administrators with a licence under the Financial Supervision Act (Wft): Holland Immo Group Beheer BV and Holland Immo Group Insinger de Beaufort Beheer BV.
Property Funds Transparency Foundation
The Property Funds Transparency Foundation (STV) is an independent foundation with the objective to raise the level of professionalism in the sector for closed-end unlisted property funds, aimed primarily at the investor market. In addition, STV aims to enhance the transparency and comparability of prospectuses by testing the prospectuses on contents against predefined standards. The results of this test are published. In addition, transparent guidelines must form part of the prospectus. Holland Immo Group recognises the importance of transparency in this sector and therefore supports STV in its efforts. Consequently, Holland Immo Group has its prospectuses tested by STV.
For further information: www.stichtingtransparantievastgoedfondsen.nl/