Antitrust fines eToro €1.3 million for misleading advertising –

Antitrust fines eToro €1.3 million for misleading advertising –

One million and €300,000 is the fine the Competition and Markets Authority has imposed on eToro Europe, the European division of the multinational social trading and multi-asset investing company. The reason would be the dissemination of misleading informationabout the characteristics and economic conditions of the services Investing in equity securities. The Cartel Office reiterates the breach of Articles 20, 21 and 22 of the Consumer Code, since it does not promptly and adequately inform users of the economic conditions and technical characteristics of the products and services offered, thus leading them to make a commercial choice that they would otherwise not would have taken.

The company’s review

The company promptly responded with a statement, clarifying that eToro’s goal is to provide our users with the tools and knowledge they need to develop both their expertise and wealth by being part of a global investor community. We attach particular importance to transparency and We scrupulously comply with the laws and regulations locally in all markets in which we operate. “We strongly believe in the importance of consumer protection and consumer information,” he concludes. We are reviewing Agcom’s decision and evaluating our options.

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