AFM imposes administrative fine

The Netherlands Authority for the Financial Markets (AFM) has imposed an administrative fine on ABN AMRO for not being able to provide adequate information regarding five transactions its legal predecessor Fortis had entered into with Vestia in the period from 3 September 2009 to 17 March 2010. The bank regrets that this information was not adequately recorded by Fortis at the time, resulting in the bank not being able to provide the supervisor with a complete reply to its request. The bank is being fined for failure to comply with certain administrative requirements.