Recent Dutch Court Ruling
On 19th April 2022 the Trade and Industry Appeals Court of The Netherlands ruled in favour of Novum Bank in its appeal of the €1.75m fine issued to the Bank by the AFM in 2018. As a result, the fine has been removed and a portion of the Bank’s legal fees are to be reimbursed by the AFM.
The Bank is pleased with the court’s decision, and looks forward to putting the matter behind it.