BaFin Fines flatexDEGIRO Bank €560K Over “Misleading Free Investment Ads”
Germany’s financial regulator, BaFin, imposed two administrative fines totaling €560,000 on flatexDEGIRO Bank AG for breaches of the German Securities Trading Act. According to BaFin, at the beginning of 2022, flatexDEGIRO Bank advertised free investment services on two of its websites without clearly stating that a regular processing fee would apply. The company “adjusted its…