CMVM imposed a fine of 150 thousand euros on Investquest and 100 thousand euros on Nuno Dimas

The Securities Market Commission (CMVM) today released an administrative offense decision. This is a fine imposed on Investquest – Sociedade Gestora de Patrimónios, which is in liquidation, and its manager Nuno Dimas, because the regulator took the decision that there was an offense related to the duties of financial intermediaries.

The decision published on the CMVM website dates back to December 14, 2023.

The fine imposed on Investquest is 150 thousand euros and was suspended as the company was in liquidation.

The fine imposed on manager Nuno Miguel Lourenço Dimas amounts to 100 thousand euros and was “partially suspended”.

There was no legal challenge.

Remember that Jornal Económico reported in 2021 that the CMVM withdrew authorization for InvestQuest – Sociedade Gestora de Patrimónios to operate and has already activated the Investor Compensation System (SII) which guarantees coverage of investor credits up to a limit of 25 thousand euros.

Behind this cancellation of registration of the manager led by Nuno Dimas are alleged irregularities related to duties towards clients, according to a source close to the process.

InvestQuest was founded in 2002, and specialized in Asset Management, Fund Management, “Private Banking” and personalized solutions for institutional clients, foundations, family offices and high-net-worth clients. In 2015, InvestQuest opened an asset management company in London.

In 2018 it was reported that InvestQuest – 90% owned by Nuno Dimas, who was also its CEO, together with Florence Ricou, former administrator of the Espírito Santo Group’s real estate fund management company – had agreed to purchase Fibeira Fundos, a property management company real estate investment funds that owned the Palácio do Correio-Mor.