On 27 March 2018, the Dutch Authority for the Financial Markets (AFM) imposed an order for incremental penalty payments on Rodeler (NL) B.V. (Rodeler) also trading under the name 24Option.com. The order for incremental penalty payments was imposed because Rodeler did not comply with the AFM's information requests during an unannounced investigation of the AFM on 27 March 2018.
Rodeler trades under the name 24Option.com. The AFM initiated an investigation at Rodeler in order to determine whether Rodeler is obliged to have a licence from the AFM for its trading activities. The AFM also wishes to determine whether Rodeler engages in unfair trading practices. Rodeler failed to provide the requested information within the term set. Consequently, Rodeler is obliged to pay an incremental penalty of € 50,000 since 28 March 2018 5:00 pm. The AFM has still not received the information.
What is an order for incremental penalty payments?
An order for incremental penalty payments is an instrument used to instruct or order a company or person to perform or cease performing a certain act. If the company or person has not complied with the instruction or order within the specified term, the company or person must pay a specified amount of money.
In this case, the AFM it trying to obtain information that is required to investigate a possible violation.
If you have questions or complaints, please contact the AFM's Financial Markets Information Line: 0800-5400 540 (free of charge).
The full decision can be downloaded in PDF format next to this text.
|Order imposed||Objection||Appeal||Further appeal|
|Submitted||Decision taken||Submitted||Decision rendered||Submitted||Decision rendered|
|27 March 2018||28 March 2018|
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