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36 • The Netherlands: Notaries to adjust their Code of Conduct The Royal Dutch Notarial Society (KNB) recently dropped the prohibion on directly recruing potenal clients, the requirement to ‘adverse objecvely,’ as well as the prohibion on charging rates below cost price. In addion, the KNB adjusted and clarified a number of rules of conduct, including the ban on commissions, which has been worked out in greater detail in the new Policy Rule on Commissions. According to the Netherlands Compeon Authority (NMa), compeon between notaries is expected to get a boost, while, at the same me, respecng the notaries’ core values of independence and imparality. The adjustments are the result of a follow up invesgaon by the NMa to the 2007 Report on Professional Services that idenfied eight compeon concerns in the self-regulaon of notaries. This concerned rules that require 1) a mutual relaonship between notaries that is benevolent and trust based, 2) notaries not to approach potenal customers directly, 3) unbiased adversing, 4) fees above cost-price, 5) publicaon of integral and minimum tariffs, 6) fees not to be result based, 7) notaries not to pay commissions for intermediaries and 8) limited ability of notaries to work with intermediaries. The adjustments to the code of conduct are intended to lead to a beer understanding of the services notaries offer, to more opons for clients, and possibly to a beer price-quality rao for consumers. The NMa had approached the trade associaon about potenally ancompeve effects of some of its rules of conduct with which the KNB members, all notaries in the Netherlands, must comply. The adjustments to the code of conduct are the result of that intervenon. Since 2004, the NMa has looked into self-regulaon by various professional groups. In 2006, the trade associaons for architects, BNA and BNSP, adjusted their self-regulaon policies. In June 2007, the NMa published its final report on the self-regulaon of accountants. In 2011, the Netherlands Order of Accountants and Administraon Consultants (NOvAA) adjusted its code of conduct. Press spokesperson: Ms. Barbara van der Rest-Roest at +31-70-330-3362 or +31-6-22793063 (outside office hours). Alternavely, you can send an email to the NMa press office at [email protected]
