The National Securities Market Commission (CNMV) has fined Banco Sabadell two million euros for deficiencies in the assessment of the information received when evaluating the suitability of certain clients within the framework of the marketing of financial products, as published this Wednesday the Official State Gazette (BOE).
This is a “very serious” infraction typified in article 284.1 of the consolidated text of the stock market law, approved by royal legislative decree 4/2015, of October 23.
The sanction was imposed by resolution dated March 3, 2020 and has been published in the BOE, after having declared final administrative proceedings, without prejudice to the jurisdictional review powers that correspond to the Contentious-Administrative Chamber of the National Court, competent to hear the appeals that, if applicable, have been filed or may be filed.
The resolution by which the sanction imposed on Banco Sabadell is published is signed by the new president of the CNMV, Rodrigo Buenaventura Canino.
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