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French regulator fines IG Group 500,000 euros over misleading marketing

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Autorite des Marches Financiers
France   The regulator called IG's advertising "misleading and inaccurate"

Online trading platform IG Group has been fined by French markets regulator Autorite des Marches Financiers.

The AMF fined IG EUR500,000 for "a string of compliance breaches" that included misleading marketing around its contracts for difference.

The regulator called IG's advertising "misleading and inaccurate" for presenting these difference contracts as high return investments despite the majority of the company's clients suffering losses, the FT said.

IG also was found to have published investment recommendations on social media without clear sources. The AMF's report said that IG's employees had, on occasion, been presented as analysts despite a lack of qualification.

Furthermore, while IG had put risk warnings on its website it had not evaluated the knowledge or experience of its clients to the French regulator's satisfaction.

"The failings are numerous and particularly grave given the clients at the branch were made up almost exclusively of retail investors," the AMF said.


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