Dutch Authority for the Financial Markets fines Lynx B.V. EUR 300,000 for repeated breaches of advertising risk disclosure rules

The Dutch Authority for the Financial Markets (AFM) has imposed an administrative fine of EUR 300,000 on Lynx B.V. for repeatedly breaching rules on advertising communications by failing to present required risk indications correctly and prominently. The AFM found that, across multiple communications and on Lynx’s website, the risk indication was displayed in smaller text than the rest of the content and with insufficient colour contrast against the background. The breaches occurred from 1 December 2023 to 24 February 2024 and again on 19 March 2024, in advertising aimed at execution-only retail investors who trade actively. In setting the sanction, the AFM weighed that earlier warnings to Lynx had not had the desired effect, while moderating the amount due in part to Lynx’s constructive attitude during the investigation. The AFM notes that the decision can no longer be brought before a court for review.