The CNMV fines Sapiens Markets and its three directors 1.05 million euros
The supervisor sanctions the securities company, which operates under the Darwinex brand, and Ignacio Sánchez-Asiaín, Juan Colón Bolea and Javier Colón Bolea for three very serious infractions related to the protection of client money, product governance and information obligations.
The Spanish National Securities Market Commission (CNMV) has fined Sapiens Markets EU Sociedad de Valores, operating under the brand Darwinex, and three of its board members a total of 1.048 million euros. The fines are for three serious infractions related to protecting client funds, product governance, and information obligations.
Sapiens Markets EU will pay 600,000 euros, while Ignacio Sánchez-Asiaín will pay 128,000 euros, and Juan Colón Bolea and Javier Colón Bolea will pay 160,000 euros each. The sanctions, made public in the Official State Gazette (BOE), can be reviewed by the Audiencia Nacional.
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