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.

Contact us
Arnaud Denis External Communication, Degroof Petercam
Alexandra Niehe Head of corporate communications, Degroof Petercam
Arnaud Denis External Communication, Degroof Petercam
Alexandra Niehe Head of corporate communications, Degroof Petercam
About Degroof Petercam Belgium

Degroof Petercam is a reference financial institution with a history dating back to 1871. As an independent group owned by family shareholders with a long term commitment, we serve private and institutional investors.

Our clients benefit from a unique combination of services in private banking, institutional asset management , investment banking (corporate finance and financial intermediation) and asset services. The total clients assets (under management, under administration and in custody), double counting excluded, amount to more than 63 billion euro.

Headquartered in Brussels, we employ more than  1 400 professionals through offices in Belgium, Luxembourg, France, Switzerland, Spain, The Netherlands, Germany and Italy.

Degroof Petercam Belgium
Brussels
Rue de l'Industrie | Nijverheidsstraat 44
1040 Brussels
België