Degroof Petercam accepts FSMA Settlement Proposal

In order to close promptly and definitively a procedure conducted by the FSMA, Degroof Petercam has entered into a settlement agreement proposed by the FSMA under which Degroof Petercam will pay a sum of EUR 100,000, together with a nominative publication of the settlement agreement.

The settlement relates to an investigation into certain transactions executed on Euronext Brussels in 2016 in the context of Degroof Petercam's liquidity-providing activity. The liquidity-providing business consists of promoting the liquidity of shares of listed companies by ensuring regular quotations on the buy and on the sell side. 

At the time of the events, the (new) regulation in this respect was not sufficiently clarified and there was no accepted market practice for liquidity providing activities. Therefore, Degroof Petercam considers that it has not deliberately failed to comply with its regulatory obligations.  Besides this, Degroof Petercam made only an extremely limited profit from these transactions.

Furthermore, Degroof Petercam fully co-operated with the FSMA investigation and immediately took the necessary measures to prevent any possible breaches in the exercise of its liquidity providing activity.

Degroof Petercam will not comment further on the details of the transaction or the substance of the case.

Arnaud Denis

External Communication, Degroof Petercam

Alexandra Niehe

Head of corporate communications, Degroof Petercam

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About Degroof Petercam

Founded in 1871, Degroof Petercam is a Belgian-rooted reference investment house built on more than 150 years of integrated financial knowledge. Being privately owned by family shareholders driven by long-term commitment, we are independent by structure and by nature. We create responsible prosperity for all by opening doors to opportunities and accompanying our private, corporate and institutional clients with expertise. 

Clients in over 20 countries trust us for our convictions and for our distinctive combination of services in private banking, asset management, investment banking (corporate finance and global markets) and asset services. 

Total client assets (under management, under administration and in custody) amount to 86 billion euros (on 31.12.2021). More than 1,500 experts are committed to our clients through offices in Belgium, Luxembourg, France, Switzerland, Spain, the Netherlands, Germany, Italy and Hong Kong.

Degroof Petercam
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