Mandate of BaFin’s special commissioner at flatexDEGIRO terminated

Mandate of BaFin’s special commissioner at flatexDEGIRO terminated

The mandate of the BaFin’s special commissioner at flatexDEGIRO Bank AG (the "Company”) was terminated on September 30, 2024, following the successful elimination of the serious deficiencies identified in the 2022 special audit by the Company and a positive review by the special commissioner. flatexDEGIRO AG made this announcement on October 18, 2024, following a corresponding decision by the German Federal Financial Supervisory Authority (BaFin).

Oliver Behrens, CEO of flatexDEGIRO, said: "We have realigned and sustainably strengthened our organizational structures and processes in constructive cooperation with BaFin and the special commissioner. We are thereby closing a regulatory chapter and again increase our focus on our customers and important growth projects. My special thanks go to all employees who, under the leadership of Steffen Jentsch, member of the bank's management board, have made it possible to reach this important milestone.”

Dr. Benon Janos, Deputy CEO & CFO of flatexDEGIRO, added: "In a comparatively short period of two years and with a strong team effort, we have successfully addressed the deficiencies. The solutions we have implemented go beyond the regulatory requirements in some cases.”

About flatexDEGIRO AG

flatexDEGIRO AG (WKN: FTG111, ISIN: DE000FTG1111, Ticker: FTK.GR) operates one of the leading and fastest growing online brokerage platforms in Europe. Based on modern, in-house state-of-the-art technology, customers of the flatex and DEGIRO brands are offered a wide range of independent products with execution on top TIER 1 exchanges. The technological edge, high efficiency and strong economies of scale enable flatexDEGIRO to continuously improve its service offering for clients and set leading standards in terms of product, price and platform quality.

With around 3 million customer accounts and around 60 million securities transactions processed in 2023, flatexDEGIRO is one of the largest retail online brokers in Europe. In times of bank consolidation, low real interest rates and digitalization, flatexDEGIRO is ideally positioned for further growth.

Further information can be found at https://www.flatexdegiro.com/en.

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