On 18 January 2022, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a procedure for settling administrative fines in a simplified manner (the Procedure).
The AFM will be able to provide offenders with the opportunity to settle an administrative fine imposed by the AFM in a simplified manner. If the AFM and an offender agree on a simplified settlement, the offender will need to acknowledge the offence and accept the administrative fine. The AFM will apply a 15% discount on the fine amount and publish a shortened fine decision.
The initiative for initiating the Procedure lies with the AFM. The AFM will take initiative exclusively in cases in which it is satisfied that following the simplified procedure will result in the expected efficiency benefits. In addition, the AFM will take into account whether a case is suitable, e.g. whether fundamental issues are in play requiring a fully elaborated decision.
The Procedure will enter into force as of 1 February 2022.