AFM imposed an order for incremental penalty payments on 24Option.com

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.

           

Status
Order imposed	Objection		Appeal		Further appeal
	Submitted	Decision taken	Submitted	Decision rendered	Submitted	Decision rendered
27 March 2018	28 March 2018

 

More information

Order for incremental penalty payments on 24Option.com