Watchdog executive broke private trading rules

An executive of the financial services sector watchdog AFM broke the body’s own rules on private investments, the Financieele Dagblad reports on Friday.

Henjo Hiekema, who left AFM’s supervisory board in January, sold shares in April 2007 without seeking permission from the regulator, the paper says.
Last summer, AFM executive Anne Willem Kist resigned after it emerged he had broken the organisation’s rules on share trading.
The paper says internal documents show Hielkema sold shares in a financial institution which was on the AFM blacklist. Although he did not commit a crime ‘we consider it to be serious’, an AFM spokesman told the paper.
As a result, the Dutch central bank has refused to approve Hielkema’s appointment as chairman of the supervisory board at SNS Reaal, the paper says.

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