Netherlands AFM

Arrowstreet Capital Fined €297,000 for Incorrect Short Position Notifications

The Dutch Authority for the Financial Markets (AFM) imposed an administrative fine of €297,000 on Arrowstreet Capital, Limited Partnership on 20 April 2026 for systematically incorrect notifications of net short positions in Just Eat Takeaway.com and Galapagos listed on Euronext Amsterdam. The firm submitted 101 incorrect notifications between July 2020 and November 2024, understating positions by tens of millions of euros in many cases, with 85 of those also violating public disclosure obligations. Arrowstreet self-reported the error, corrected it promptly, and cooperated fully with the investigation, leading to a reduced fine through the simplified settlement procedure.

AFM Annual Report 2025: €11B Foundation Repair, AI Market Risks

The AFM published its Annual Report 2025 alongside two thematic reports covering financial sector resilience and emerging risks. Research reveals 500,000 Dutch homeowners have vulnerable foundations requiring €11 billion in total restoration, with over 25,000 unable to responsibly take loans for repairs. A separate study on AI in capital markets identifies both opportunities and risks, with the AFM emphasizing that human involvement and intervention capability remain essential as autonomous systems increasingly drive market decisions.

AFM Finds Crypto Firm Advertising, Cost Information Shortcomings

The AFM examined 33 crypto-asset service providers (CASPs) for compliance with MiCAR advertising and cost disclosure requirements, finding significant shortcomings at 14 firms in advertising and 19 firms in cost information. Dutch CASPs will receive supervisory letters, while the ten international firms identified will be reported to their respective national regulators. Executive board member Hanzo van Beusekom stated the period of leniency has ended, signalling that continued non-compliance will result in enforcement action.