Revolut, antitrust investigation for unfair commercial practices
Under the lens 'misleading messages of investment services offered'. The company: 'Maximum cooperation with Agcm'
1' min read
1' min read
The Antitrust has launched an investigation against Revolut, which 'allegedly spread misleading messages about the investment services offered and used aggressive methods in the management of banking services'. This was stated in a note by the Competition and Market Authority, which opened an investigation against Revolut Group Holdings Ltd, Revolut Bank Uab and Revolut Securities Europe Uab.
"On Tuesday 8 July," reads the note announcing the opening of an investigation, "the Authority's officials, with the help of the Nucleo Speciale Antitrust of the Guardia di Finanza, carried out inspections at the Italian branch of Revolut Bank Uab."
The company rejects all charges: 'We take the Agcm investigation very seriously. We have provided and will continue to provide our full cooperation to the Authority," says Revolut. "As this is an ongoing proceeding, we cannot provide specific details at this time. Revolut remains fully committed to maintaining the highest standards of compliance and customer protection in Italy and worldwide,' concludes the digital bank.
