Antitrust fines eToro 1.3 million euros for misleading advertising – Corriere.it
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One million and 300 thousand euros is the amount of the fine that the Competition and Market Authority has imposed on eToro Europe, the European department of the multinational company of social trading and multi-asset investments. The reason would be the dissemination of misleading information son the characteristics and economic conditions of the services investment in equity securities. The Antitrust reiterates the violation of articles 20, 21 and 22 of the Consumer Code because it does not immediately and adequately inform users about the economic conditions and the technical characteristics of the products and services offered, thus inducing them to take a decision of a commercial that they would not otherwise have taken.
The review of the company
The company immediately responded through a note, clarifying that eToro’s goal is to provide our users with the tools and knowledge necessary to develop both their expertise and their wealth, by being part of a global community of investors. We pay particular attention to transparency and we scrupulously comply with the laws and regulations local in all the markets in which we operate. We firmly believe in the importance of consumer protection and to provide consumers with comprehensive information – he concludes -. We are reviewing the decision taken by Agcom and evaluating our options.
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