30-06-2009 Policy on administrative fine and cease and desist order under penalty for investment firms

For the sake of good order, DNB points out that an investment firm and/or its financial holding is obliged under the Financial Supervision Act (Wet op het financieel toezicht or Wft) to submit timely financial reports to DNB, unless it has been granted a dispensation from DNB. Complete and timely submission of the requested data is essential for the exercise of adequate prudential supervision on investment firms. This means that if an investment firm and/or its financial holding neglects to provide the requested data, DNB has the power to take formal measures, including the imposition of an administrative fine or a cease and desist order under penalty.