Regulatory Alerts2023-07-05
Added · Updated
Enforcement Policy of the AFM and DNB
The AFM and DNB updated their enforcement policy in October 2020 to define the principles and factors guiding the use of informal and formal enforcement instruments to ensure compliance with financial legislation. The policy mandates action upon discovery of violations, prioritizing norm-conforming behavior through measures such as warnings, directives, license restrictions, and administrative fines. Key factors for selecting enforcement actions include the severity and duration of the violation, the degree of culpability, the offender's cooperation, and the presence of recidivism. This framework applies to all supervised financial entities and individuals, including de facto directors, under the supervision of the AFM and DNB.