- The Netherlands’ AFM issues a penalty on Vantage Markets for non-cooperation in its probe into unlicensed investment services.
- Vantage Markets faces daily penalties of €10,000, up to €100,000, for failing to meet the AFM’s information requests.
The Netherlands’ Financial Markets Authority (AFM) has imposed a penalty payment order on Vantage Global Limited, also known as Vantage Markets, due to the company’s lack of cooperation in an ongoing investigation.
The AFM is examining whether Vantage Markets, a Vanuatu-based firm offering high-risk financial instruments like Contracts for Differences (CFDs) to retail investors, has been illegally providing investment services within the Netherlands without the necessary licensing.
The investigation also includes scrutinizing the company’s partnerships with Dutch intermediaries. The AFM has requested information from Vantage Markets multiple times to assess the legality of its operations.
Due to the firm’s repeated failure to supply the required information, the AFM issued a penalty order on October 24, 2024. The order mandates a penalty of €10,000 for each day Vantage Markets fails to comply, with a cap of €100,000.
