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Stock trader DeGiro will need up to 300,000 to pay for mismanagement

Regulator, AFM, has the imposition of a penalty payment, of a total of 300,000 euros imposed on stock trader DeGiro, because of the existence of a conflict of i

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Stock trader DeGiro will need up to 300,000 to pay for mismanagement

Regulator, AFM, has the imposition of a penalty payment, of a total of 300,000 euros imposed on stock trader DeGiro, because of the existence of a conflict of interest and will be considered to be high risk customers. It reports to the financial supervisory authority.

Individuals can use DeGiro the money to invest in stock markets. According to the AFM, the company has in the past and will not be held. "The client's interest was not the primary focus of the business and the possible violations of law that were not prevented," according to the financial supervisory authority.

As it turned out, that residential customers would have to pay for the risk of a large investor, and HiQ Invest. These large investors had some of the same directors and shareholders as well as DeGiro, according to a study that DETAILS of the message.

finally, the AFM imposed the penalties, already in 2018, but it was only this week publicly announced. In the meantime, DeGiro its activities, partly improved, which enabled the company to be a part of the payments may not have to pay for it.

the other part, the imposition of a penalty payment, of a total amount of up to 300,000 euros, has remained intact. Against it came to DeGiro in the defence in the court of law. That last week and found that the dealer is indeed not properly handled by the customer. In the investment business, the amount should, therefore, still has to pay for.

DeGiro is no longer independent, but an integral part of the German beleggersplatform Flatex.

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