Measure
09/03/26
AFM fines Lynx B.V. for breaching advertising rules
On 17 April 2025, the Dutch Authority for Financial Markets (AFM) imposed an administrative fine of €300,000 on Lynx B.V. (Lynx) for repeatedly breaching advertising rules between 1 December 2023 and 19 March 2024. In deciding to impose a fine, the AFM explicitly took into account that earlier warnings did not have the desired effect, even though the fine was lowered in part due to Lynx’s constructive cooperation during the investigation.
In short
- Incorrect presentation of risk warning in marketing communications
- Earlier warnings did not have the desired effect
Incorrect presentation of risk warning in marketing communications
Investment firms, such as Lynx, are required to ensure that their advertising materials are fair. They must also clearly indicate the risks associated with an investment service, especially when highlighting potential benefits. In several of the reviewed advertisements, as well as on the company’s website, this was not the case: the indication of risks appeared in smaller font size than the rest of the text, and the color contrast with the background was too low. This is in breach of the applicable rules.Lynx targets execution-only (retail) investors who want to trade actively. For every investor, information about risks is essential to understand possible financial consequences. Non-compliance with advertising requirements is therefore serious, particularly because the breaches occurred over an extended period: from 1 December 2023 to 24 February 2024 and again on 19 March 2024.
Laura van Geest, Chair of the AFM Executive Board: “Firms must ensure that their communications are fair, clear and not misleading. Those who highlight benefits must also present risks clearly and visibly. We monitor compliance with these rules closely and intervene where necessary to safeguard consumer confidence in the financial sector.”
Earlier warnings did not have the desired effect
In its decision to impose a fine on Lynx, the AFM also considered Lynx’s supervisory history. An important consideration was that the AFM had issued multiple prior warnings to Lynx. Despite these warnings, the AFM again identified breaches.A PDF of the full decision can be downloaded below. The AFM’s decision can no longer be submitted to the courts for review by interested parties. This press release does not indicate whether an objection or appeal has been lodged against the measure. The current status can be consulted below.
If you have any questions or complaints, please contact the AFM's Financial Markets Information Line at 0800‑5400 540 (free of charge).
Contact for this article
Ben Zwirs
ben.zwirs@afm.nl
06 11 64 22 77
06 11 64 22 77
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