The AFM imposes an order for incremental penalty payments on a Belgian currency trader


The Netherlands Authority for the Financial Markets (AFM) hereby announces that, on 29 March 2012, it imposed an order for incremental penalty payments on Mr Ch.N.P. Van Renynghe de Voxvrie. He trades among others under the names Fidelity Finance,, and The Freedom Trading Club. He fails to comply in full with the AFM's requests for information.

The AFM has asked Mr Ch.N.P. Van Renynghe de Voxvrie for bank details. The AFM requires this information in order to be able to establish whether and to what extent he complies with the Financial Supervision Act (Wft) and whether he performs activities that are subject to the licence requirement. Within the context of this supervision investigation, the AFM performed an investigation on site on 28 February 2012 during an investment seminar held by Mr Ch.N.P. Van Renynghe de Voxvrie in The Hague.

The request for information centres on the question whether Mr Ch.N.P. Van Renynghe de Voxvrie offers investments (Article 2:55 Wft) and/or rights of participation in a collective investment scheme (Article 2:65 Wft). The AFM also investigates whether he provides investment services or performs investment activities (Article 2:96 Wft).

Mr Ch.N.P. Van Renynghe de Voxvrie did not provide the requested information by the deadline and is therefore required to make incremental penalty payments. Mr Ch.N.P. Van Renynghe de Voxvrie provided information to the AFM. However, part of the requested information still needs to be provided to the AFM. The incremental penalty payments amount to €15,000 for every day he fails to comply with this order and is subject to a maximum of €300,000.

If you have any questions or comments you can contact the Financial Markets Information Line on: 0800-5400 540 (free of charge).   

The AFM is committed to promoting fair and transparent financial markets.

As an independent market conduct authority, we contribute to a sustainable financial system and prosperity in the Netherlands.

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