Netherlands:
Dutch Central Bank Fines Two Companies For Illegally Conducting Banking Activities
20 November 2012
De Brauw Blackstone Westbroek N.V.
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The Dutch Central Bank issued two fines for banking law
violations in September 2012. An investment fund was fined EUR
200,000 and a de facto director of another investment fund was
fined EUR 150,000 for illegally conducting banking activities. They
did this by raising funds outside a closed circle and from parties
other than professional market parties, according to the Dutch
Central Bank. The funds were raised by issuing bonds and were
subsequently invested in real estate entities not belonging to
their groups. Neither company had a banking licence issued by the
Dutch Central Bank. This was the first time that the Dutch Central
Bank imposed such a high fine on an individual.
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