Plus500 reaches settlement with Belgium’s FSMA
Plus500 has reached a settlement agreement with the Belgium Financial Services and Markets Authority (FSMA) in relation to the public offering of investment instruments, including CFDs, in the country.
In a statement, Plus500 said the settlement is worth €550,000 ($598,900), but “does not amount to an admission of guilt or non-compliance” by the company.
The firm said it believed it had it introduced “all necessary procedures” to comply with applicable legislation in Belgium, but felt an agreement was appropriate to “respect the authority of FSMA and to reach a swift and final clearance of the jurisdictional process”.
Plus500added: “The company reaffirms that it does not have any regulatory restrictions in any of the group's regulated markets.”
Related article: Plus500 posts preliminary growth figures for 2016