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Fortis fined by Dutch regulator
11 March 2010
Fortis has been fined Eu576,000 ($787,543) by Dutch regulator, AFM, for downplaying its solvency problems and withholding share price information.
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Fortis has been fined Eu576,000 ($787,543) by Dutch regulator, AFM, for downplaying its solvency problems and withholding share price information following the takeover of a Dutch rival ABN Amro in 2007, the Wall Street Journal reports.
The fine applies to the period after the Belgian bank and insurer bought ABN Amro for Eu71bn in a consortium with Banco Santander and Royal Bank of Scotland, wrote the WSJ.
Fortis wrote the following in...
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