Erscheinung:25.07.2024 | Topic Measures Announcement about BNP Paribas S.A.
On 3 July 2024, the Federal Financial Supervisory Authority (BaFin) imposed administrative fines totalling 830,000 euros on BNP Paribas S.A.
The sanction related to breaches of section 63 (7) to (9) of the German Securities Trading Act (Wertpapierhandelsgesetz – WpHG), Article 46(2) and Article 50(2) of Delegated Regulation (EU) 2017/565, and section 64 (3) of the WpHG in connection with Article 54(4) of Delegated Regulation (EU) 2017/565.
As an investment services provider, BNP Paribas S.A. Niederlassung Deutschland did not provide its clients with information on all costs and associated charges relating to specific financial instruments in good time in accordance with the requirements.
In addition, BNP Paribas S.A. Niederlassung Deutschland provided investment services without first obtaining sufficient information on the client's financial situation as part of the suitability assessment.
The administrative fine order is final and binding.
