Edition 1496
13 October 2018
Edition: 1496

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EC to investigate BES product sales to emigrants

by TPN/Lusa, in News · 05-01-2018 14:28:00 · 0 Comments

The European Commission (EC) is going to conduct a preliminary investigation into how BES sold financial products to Portuguese emigrants who suffered major losses in their investments as a result of the resolution of the bank, according to documents seen by Lusa News Agency.

EC to investigate BES product sales to emigrants

 

The investigation comes following a request by the European parliament, which accepted a petition by a group of emigrants who lost their money and questioned the way Banco Espírito Santo (BES) sold financial products to the emigrants, particularly in France and Switzerland.

 

They claim there was a violation of financial mediation rules and that they were unfairly treated by the Bank of Portugal and Novo Banco (which took over as the ‘good bank’) when the resolution of the bank took place in August 2014.

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Edition 1496
13 October 2018
Edition: 1496

Read this week's issue online exactly as it appears in print.

Twitter

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