Fines for incomplete compliance with MiFID reporting requirements

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The Netherlands Authority for the Financial Markets (AFM) has fined ABN AMRO Clearing Bank N.V. and ABN AMRO Bank N.V. for not completely complying with transaction-related reporting requirements. Under MiFID regulations, banks are required to submit reports concerning transactions in certain financial instruments.

The first fine imposed by the AFM amounts to EUR 500,000 and concerns the non-timely reporting by ABN AMRO Clearing Bank N.V. of 11,911 transactions, mainly conducted on the Stuttgart Exchange, in the period 13-9-2014 to 11-4-2016. The second fine amounts to EUR 400.000 and relates to 86,796 market transactions that had not been included in ABN AMRO Bank N.V.’s reports from 02-02-2010 to 01-07-2015. 

In both of these cases, ABN AMRO reported the omissions to the AFM, after which the bank submitted reports on the missing transactions and took measures to prevent this from happening again. 

ABN AMRO Clearing processes stock market transactions between sellers and buyers at more than 150 exchanges, MTFs and markets worldwide. In 2015, it cleared more than 805 million transactions in Europe alone. More information on ABN AMRO Clearing is available at ABN AMRO Markets carries out client orders at stock exchanges. During the years 2010 through 2015, it handled some 20 million reportable transactions. For more information on ABN AMRO Markets, please go to


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