© DNB
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.
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.
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.
|
Stage |
Date |
Results |
|---|---|---|
|
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 |
Unfounded |
|
Submission of notice of appeal |
20 July 2020 |
|
|
Amended decision on objection |
30 December 2020
|
Fine reduced to €27,380 |
|
Appeal |
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.
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