( October 30, 2017, 19:43 GMT | Official Statement) -- MLex Summary: Diamond Private Investment and Intermarket Diamond Business — as well as their partner banks Unicredit, Intesa Sanpaolo, Banca Monte dei Paschi di Siena and Banco BPM — have been fined more than 15 million euros in Italy for unfair practices in relation to the sale of investment diamonds, sales that were also made through the banks they worked with. The brokers were also found to have provided misleading information on their websites and advertising material regarding the sale price of diamonds, the stability of the diamond market, as well as the possibility to resell them.Full statement follows in Italian:...
Prepare for tomorrow’s regulatory change, today
MLex identifies risk to business wherever it emerges, with specialist reporters across the globe providing exclusive news and deep-dive analysis on the proposals, probes, enforcement actions and rulings that matter to your organization and clients, now and in the longer term.
Know what others in the room don’t, with features including:
- Daily newsletters for Antitrust, M&A, Trade, Data Privacy & Security, Technology, AI and more
- Custom alerts on specific filters including geographies, industries, topics and companies to suit your practice needs
- Predictive analysis from expert journalists across North America, the UK and Europe, Latin America and Asia-Pacific
- Curated case files bringing together news, analysis and source documents in a single timeline
Experience MLex today with a 14-day free trial.