The Polish Financial Supervision Authority (KNF) published a press release to inform that the Supreme Administrative Court has dismissed the appeal of X-TRADE BROKERS Dom Maklerski SA (currently: XTB SA) concerning a fine of PLN 9,900,000 which was imposed on the company by the KNF for violating – among others – §83a of the Act on Trading in Financial Instruments in 2018. Specifically the company did not act in the best interest of clients when executing customer orders by delaying the execution in a way that would benefit the company, but not its clients.
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Date Published: 2023-03-01
Regulatory Framework: Markets in Financial Instruments Directive II (MiFID II)
Regulatory Type: information
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