Outdated browser

You are using an outdated browser. DNB.nl works best with:

Fine for IJmond Corporate Solutions B.V. for not having two directors in time

Enforcement measures

Published: 04 May 2023

Toorop 2023

De Nederlandsche Bank (DNB) imposed an administrative fine of €47,500 on IJmond Corporate Solutions B.V. (IJCS) on 4 February 2020. The administrative fine is imposed because IJCS did not have two directors from 1 July 2019 until at least 19 August 2019. The administrative fine was eventually reduced on objection and appeal to €24,880.  

Two directors required by law 

As from 1 January 2019, trust offices are required by law to have two directors in order to strengthen the integrity and professionalism of these institutions.

DNB found that IJCS did not have two directors on 1 January 2019. DNB then gave IJCS the opportunity to end this non-compliance with the law of its own accord by 1 July 2019 at the latest by having at least two directors from that date. 

IJCS did not have two directors on 1 July 2019; DNB therefore imposed an administrative fine of €47,500 on IJCS on 4 February 2020.

IJCS subsequently proposed a second director on 9 September 2019, whose candidacy DNB approved on 31 October 2019. This means that IJCS has restored compliance as of that date.   

Objection and appeal 

On 10 March 2020, IJCS objected to the administrative fine. DNB declared this objection unfounded in a decision dated 11 June 2020. IJCS subsequently filed an appeal with the Rotterdam District Court on 20 July 2020. Following the entry into force of the DNB General fine calculation policy of 12 December 2020 (Algemeen Boetetoemetingsbeleid DNB), DNB amended its decision on the objection by decision of 30 December 2020, and reduced the amount of the fine to €27,380. The Rotterdam District Court subsequently upheld the appeal against this amended decision on the objection based on the grounds that the reasonable time limit had been exceeded, and reduced the fine to €24,880. No appeal was lodged against the Rotterdam District Court's ruling. The decision to impose a fine and the (amended) decision on the objection have therefore become irrevocable.  

You can swipe the table to see more columns.




Decision to impose a fine 

4 February 2020 

Fine of €47,500 

Submission of notice of objection 

10 March 2020 


Decision on objection 

11 June 2020 


Submission of notice of appeal 

20 July 2020 


Amended decision on objection 

30 December 2020 


Fine reduced to €27,380 


10 November 2022 

Fine reduced to €24,880 

Read below the full decision (only in dutch) to impose a fine, the decision on objection and the amended decision on objection, excluding confidential information. For more information, please contact DNB's Information Desk on 0800 020 1068 (freephone in the Netherlands) or +31 20 524 91 11 if you call from abroad. 

Boetebesluit Ijmond Corporate Solutions B.V.


Wijzigingsbesluit IJmond Corporate Solutions B.V.


Beslissing op Bezwaar IJmond Corporate Solutions B.V.


Discover related articles