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The Degroof Petercam bank is accused by the market authority, which is also the guarantor of investor protection, of not having responded to the provisions of the Mifid regulation.
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The bank Degroof Petercam is fined 800,000 euros by the FSMA. The financial policeman and guarantor of investor protection criticizes the establishment for not having complied with the provisions of the Mifid regulation during its investment and management advice.
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The objective of this directive on the markets in financial instruments (MiFid) is to protect investors, in particular by establishing a profile of the risks that they are prepared to take with full knowledge of the facts.
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This directive on markets in financial instruments (MiFid) aims to protect investors, in particular by establishing a profile of risks they are willing to take Knowingly.
“During the investigation which it carried out, the FSMA identified elements which, according to it, constitute shortcomings”, one reads in a press release.
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Compensated clients
In addition to the transactional settlement, Degroof Petercam will also see its name appear on the website of the Financial Services and Markets Authority.
However, the latter specifies that in the meantime, the bank has already remedied the shortcomings by adapting and strengthening its operational teams.
A compensation has also been offered to aggrieved customers.
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Note that this fine is in no way linked to the criticisms of the BNB regarding the bank’s laxity in terms of anti-money laundering control.
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