AFM imposes a fine on ABN AMRO Bank N.V. and ABN AMRO Clearing Bank N.V. for failing to notify transactions in time
(WorldNews Netherlands)

On 6 July 2017, the Dutch Authority for the Financial Markets (AFM) imposed 2 administrative fines of EUR400,000 and EUR500,000 on ABN AMRO Bank N.V. (ABN AMRO) and ABN AMRO Clearing Bank N.V. (ABN AMRO Clearing), respectively. The fines were imposed because the banks failed to notify transactions to the AFM in time. This constitutes a violation of Section 4:90e(3) of the Financial Supervision Act. This Section obliges investment firms that perform transactions in listed financial instruments to notify the AFM of the details of these transactions. This should be done as quickly as possible, but at the latest at the end of...