On 14 February 2013 the Dutch Financial Markets Authority (Autoriteit Financiële Markten, the "AFM") announced that it has entered into an agreement with six Dutch banks. This agreement provides that these banks will no longer receive distribution fees from fund providers as of 1 January 2014. The agreement can be considered a voluntary ban on distribution fees. The participating banks are ABN AMRO, BinckBank, ING Bank, Van Lanschot, Rabobank and SNS Bank. Below, we will summarize the most important elements regarding the agreement.