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Fine imposed on Black Swan Capital for failure to hold sufficient own funds

Enforcement measures
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De Nederlandsche Bank (DNB) imposed an administrative fine of €15,810 on investment firm Black Swan Capital B.V. (BSC) on 21 May 2024, for failing to hold sufficient own funds from the year-end 2019 until 21 July 2023.

Published: 30 May 2024

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Non-compliance

DNB found that BSC failed to comply with the Financial Supervision Act (Wet op het financieel toezicht – Wft) and the Decree on Prudential Rules for Financial Undertakings (Besluit Prudentiële Regels Wft – Bpr) by not holding the required minimum amount of own funds.

Compliance with this capital requirement ensures that financial institutions have sufficient capital to meet their liabilities even in more adverse circumstances.

DNB found that BSC had restored compliance with the minimum capital requirement applicable to it as of 21 July 2023.

Administrative fine

The administrative fine for BSC’s non-compliance has been set at €15,810, in accordance with the DNB General fine calculation policy (Algemeen boetetoemetingsbeleid DNB).

In setting the fine, DNB had taken into account that BSC has taken measures to prevent recurrence of the violation.

Lodging an objection

BSC has six weeks from the receipt of the fine to lodge an objection.

Decision to impose a fine on Black Swan Capital B.V. and to make the fine public (only in Dutch)

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Download Decision to impose a fine on Black Swan Capital B.V. and to make the fine public (only in Dutch)

Current situation of proceedings Black Swan Capital B.V.

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Download Current situation of proceedings Black Swan Capital B.V.

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