FinanceMagnates
France’s financial regulator has fined Saxo Bank A/S
€1 million for alleged multiple breaches of conduct rules, including poor
client communication and audit cooperation failures following its merger with
BinckBank NV. The Autorité des Marchés Financiers (AMF) cited
serious lapses during a 2020 system migration and ordered the decision to be
published without anonymization for five years.“Saxo Bank failed to inform the five affected clients in a
timely manner…
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Over 55,000 Clients Affected in IT Transition Misstep; Saxo Hit With €1M Fine by French Regulator
Jared Kirui
08:26
France’s financial regulator has fined Saxo Bank A/S €1 million for alleged multiple breaches of conduct rules, including poor client communication and audit cooperation failures following its merger with BinckBank NV. The Autorité des Marchés Financiers (AMF) cited serious lapses during a 2020 system migration and ordered the decision to be published without anonymization for
