Brief: Polish Anti-Monopoly Office Says Idea Bank To Pay Compensation To Clients Who Bought Getback Bonds

Capitea SA

03/02/2020 13:14

Feb 3 (Reuters) - 
    * POLISH OFFICE OF COMPETITION AND CONSUMER PROTECTION
(UOKIK) HAS
ISSUED A DECISION STATING THAT IDEA BANK HAD APPLIED THE
PRACTICE OF MISSELLING, I.E. OFFERED ITS CLIENTS HIGH-RISK
GETBACK BONDS IN A WAY WHICH DID NOT REFLECT THEIR ACTUAL NEEDS
    * THE OFFICE SAYS THE UNLAWFUL PRACTICE OF MISSELING WAS
CONFIRMED
BY COLLECTED EVIDENCE, INCLUDING NUMEROUS CLIENT COMPLAINTS
    * THE ISSUED DECISION IMPOSES ON IDEA BANK AN OBLIGATION TO
PAY
COMPENSATION TO THOSE CLIENTS WHO HAVE PURCHASED GETBACK BONDS
VIA THE BANK
    * THE MODEL ADOPTED BY UOKIK ASSUMES THAT EVERY BONDHOLDER
WHO
FILES APPROPRIATE MOTION WILL RECEIVE COMPENSATION AMOUNTING TO
20% OF FUNDS INVESTED, CALCULATED FOR AMOUNTS OF UP TO 50,000
ZLOTYS AS THIS WAS THE AMOUNT FOR WHICH CLIENTS HAD TO BUY
GETBACK BONDS UNDER ONE ISSUE IN ORDER TO PARTICIPATE IN IT 

    
 Source text: https://bit.ly/2vLBJHC
    
 Further company coverage:  IDE.WA  
   


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