Deutsche Bank, fined by the CNMV
The National Securities Market Commission (CNMV) has imposed a fine of 200,000 euros on Deutsche Bank for failing to comply with regulations relating to the assessment of the suitability of customers of complex financial products.
As published on Tuesday in the Official State Gazette (BOE), the sanction, which was imposed by the CNMV Board on 21 July and is classified as a very serious infringement, the financial institution did not have adequate procedures in place at the end of 2016 to control the information collected from customers on their suitability in relation to complex products.
Deutsche Bank has assured, after the publication of the fine, that it has already “paid” the fine and that it has had the appropriate measures and procedures in place since MiFID II regulations (relating to markets in financial instruments) came into force in 2018.
