Netherlands regulator AFM warns against the business practices of Florijn Duurzaam Wonen

The Dutch Authority for the Financial Markets (AFM) issued a warning to consumers regarding the business practices of Florijn Duurzaam Wonen B.V.

Florijn Duurzaam Wonen offers bonds in the Netherlands. Based on information on its website, the AFM suspects that Florijn Duurzaam Wonen is providing false information to consumers when offering these securities. Florijn Duurzaam Wonen may therefore be in violation of the Consumer Protection (Enforcement) Act (Whc). The AFM has not yet established that a violation has occurred.

Florijn Duurzaam Wonen offers bonds in the Netherlands via the website An information memorandum and a brochure can be downloaded from this website. These appear to state that Florijn Duurzaam Wonen uses the funds raised from consumers to purchase solar panels and heat pumps. The solar panels and heat pumps are placed with homeowners, who then pay Florijn Duurzaam Wonen a monthly payment for the use of these items.

The AFM suspects that the information provided by Florijn Duurzaam Wonen regarding the use of the funds is false. There were no funds in the bank account of Florijn Duurzaam Wonen on 14 April 2017, although consumers had paid €107,800 to Florijn Duurzaam Wonen up to that date. A total of €43,500 has been withdrawn in cash from a cash dispenser. In addition, a total of €48,495 has been paid to persons involved with Florijn Duurzaam Wonen. This suggests that more than 85% of the payments from consumers was not used for the purchase of solar panels and heat pumps, with 40% being withdrawn in cash.

The bank account of Florijn Duurzaam Wonen does not show any income originating from homeowners using these solar panels and heat pumps. The AFM therefore has doubts as to whether Florijn Duurzaam Wonen has actually placed these solar panels and heat pumps.

The AFM takes action against institutions that provide false, unclear or incomprehensible information to consumers. In case of unethical business practice, consumers can call the company to account regarding its conduct and compel the company to comply with the rules via civil-law proceedings.

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Netherlands regulator AFM warns against the business practices of Florijn Duurzaam Wonen


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