AFM imposes a fine on Robeco
8 April 2022 - The Netherlands Authority for the Financial Markets (AFM) has imposed a fine of EUR 2 million on Robeco for not adequately performing the gatekeeper function within its Dutch direct retail activities under the Money Laundering and Terrorist Financing (Prevention) Act (Wwft) between July 2018 and April 2020.
We accept the AFM’s decision. We would like to add that none of the deficient processes were related to our investment operations or had an impact on the investment results for our clients.
The order subject to a penalty
Next to the fine, the AFM had imposed an order subject to a penalty on Robeco to improve our Wwft-related processes before 31 December 2021. We regret that not all of our processes met the required standards, and we trust that we have made the necessary improvements to rectify cases and prevent recurrence.