BCP fined €210,000 over rules for retail investors

The Central Bank has fined investment firm BCP Asset Management €210,000 after an enforcement investigation found nine of the firm’s retail clients were wrongly categorised as professional investors and afforded a lower level of protection as a result.

The Central Bank has fined investment firm BCP Asset Management €210,000 after an enforcement investigation found nine of the firm’s retail clients were wrongly categorised as professional investors and afforded a lower level of protection as a result.

The regulator said the factors in deciding the size of the fine included the “seriousness” of the cases, the length of time of some of the breaches which extended up to four-and-a-half years, and “the firm’s conduct in altering two already signed declarations without the clients’ consent”.