Overview
- The AGCM has opened a formal antitrust probe into Revolut Group Holdings Ltd, Revolut Bank Uab and Revolut Securities Europe Uab over alleged misleading investment marketing and aggressive bank account management practices.
- On July 8, officials from the AGCM and the Guardia di Finanza’s Special Antitrust Unit conducted inspections at Revolut’s Milan branch to secure evidence.
- Regulators allege that Revolut promoted zero-commission stock trading without disclosing extra fees, investment limitations or differences in fractional-share voting rights.
- The inquiry includes claims that Revolut failed to inform users they could not modify stop-loss and take-profit orders during high-risk cryptocurrency investments.
- Authorities are also reviewing abrupt account suspensions and incomplete guidance on switching from a Lithuanian to an Italian IBAN as Revolut pledges full cooperation.