The Dutch Authority for the Financial Markets (AFM) imposed an administrative fine of EUR 297,000 on Arrowstreet Capital, Limited Partnership for structurally misreporting its net short positions in two Euronext Amsterdam-listed companies, breaching short selling rules between July 2020 and November 2024. Arrowstreet, a US-based institutional asset manager, held short positions in Just Eat Takeaway.com and Galapagos but, due to an error in its calculation methodology, submitted 101 incorrect net short position notifications to the AFM. In 85 of those cases, the misreporting also resulted in incorrect public disclosures, with the actual positions often exceeding the reported figures by differences of tens of millions of euros. The AFM reduced the fine citing Arrowstreet’s self-reporting, prompt remediation, cooperation with the investigation and measures to prevent recurrence; Arrowstreet accepted the fine under a simplified settlement, and the matter has been closed.
Dutch Authority for the Financial Markets 2026-04-22
Dutch Authority for the Financial Markets fines Arrowstreet Capital EUR 297,000 for incorrect net short position reporting
The Dutch Authority for the Financial Markets imposed an administrative fine of EUR 297,000 on Arrowstreet Capital, Limited Partnership for structurally misreporting net short positions in Just Eat Takeaway.com and Galapagos between July 2020 and November 2024, resulting in 101 incorrect notifications and 85 inaccurate public disclosures. The fine was reduced in light of Arrowstreet’s self-reporting, remediation, cooperation and preventive measures, and was accepted under a simplified settlement, closing the matter.