Italian Antitrust Authority Fines Revolut €11 Million for Misleading Fees and Terms
The Italian Antitrust Authority has imposed an 11 million euro fine on Revolut, citing the company's dissemination of misleading information regarding its investment services, specifically advertisements suggesting customers could trade with no commission, and its use of aggressive and deceptive methods in managing bank accounts.
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Italy fines Revolut over misleading fees and terms details
Competition watchdog singles out advertisements suggesting customers could trade with no commission
Read full article →Italian Antitrust Authority fines Revolut 11 million euros
(ANSA) - ROME, APR 2 - The Italian Antitrust Authority said Thursday that it has fined Revolut over 11 million euros for spreading misleading information about its investment services and using aggressive, misleading methods in the management of banking services. It said Revolut Securities Europe UAB and Revolut Group Holdings Ltd failed to clearly disclose to clients the additional costs and limitations involved in commission-free investments. "These investments include fractional shares, wh...
By ANSA
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