Financial Arbitrator to Rule in Favor of Our Clients over Unsuitable CFD Investments; Enforcement proceedings underway.

We are happy to announce that in two similar cases the Czech Financial Arbitrator (“Finanční arbitr”) ruled in favor of our clients who sustained singificant losses in CFD trading.

In the first case, the arbitrator ruled that the Cypriot broker Top Markets Solutions Ltd (ex Teletrade-DJ International Consulting Ltd) failed to manage client’s portfolio via copy trading in line with its statutory duties and its pre-sale promises. The broker was also found to have insufficiently drafted and analyzed its investment questionnaire which consequently led to our client’s losses.

In the second case,the Financial arbitrator condemned the way the German companies Bernstein Financial Services and Bernstein Bank allowed the client and later encouraged him to invest in instruments completely unsuitable to his background and risk appetite.

As of today, both of the investment firms fail to pay the respective sums under the final and binding decisions. Therefore, we proceeded with enforcement proceedings and will inform public through appropriate channels. The decisions can be found at the Financial arbitrator’s website HERE .