Brewing heiress Charlene de Carvalho-Heineken has been fined €375,000 by the financial services regulator AFM for the late reporting of share transactions in Heineken, the NRC reports.
According to the AFM, the daughter of the late beer magnate Freddy Heineken did not report 61 share transactions between September 9 and December 20 2013. These covered the purchase of around one million shares with a value of €50m, the NRC said.
Carvalho has a majority interest in Heineken Holding through L’Arche Green NV where she is a board member. As such, she is required by law to report any share transactions ‘immediately’.
The 61 transactions quoted by the AFM were reported on December 30 2013 but the AFM says this was not ‘immediately’ and is imposing the fine.
That fine could have been a maximum of €500,000 but Carvalho has been given a reduction because she has always reported immediately in the past.