Regulatory Alerts2018-09-12
Added · Updated
Covenant on administrative fines and criminal-law sanctions
The AFM, DNB, FIOD, and OM establish a cooperation framework to prevent the double punishment of the same offense by coordinating the handling of violations involving both administrative fines and criminal sanctions. The agreement mandates information exchange between regulators and prosecutors before imposing administrative fines or initiating criminal proceedings, particularly for market abuse, prohibition breaches, recidivism, or serious cases. It creates specific 'Weegploeg' (weighing groups) for joint decision-making, defines strict data protection and confidentiality obligations for personal data sharing, and replaces the 2008 version of this covenant.
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