On 29 June 2021, the Dutch Authority for the Financial Markets (Autoriteit Financiële Markten, the AFM) published a revised policy that the regulator uses to determine the amount of nearly all administrative fines it imposes: the Fine Allocation Policy AFM 2021 (Boetetoemetingsbeleid AFM 2021).

Market participants were given the opportunity to respond to the proposed revision (see our previous blog), but the responses received by the AFM did not lead to any adjustments. The definitive version of the policy rule with explanatory notes has also been published in the Dutch Government Gazette.