MADRID, 3 Ago. (EUROPA PRESS) –
The Claims Service of the National Securities Market Commission (CNMV) resolved 1,335 files during 2021, 9.7% more than in 2020, of which 484 were inadmissible and 851 were processed as claims with the issuance of a final report .
Last year, the CNMV received 1,254 writings related to investment services that could be processed as a claim, a figure slightly higher than the 1,242 writings that were registered in 2020, according to the Investor Complaints and Inquiries Report. corresponding to 2021.
The supervisor explains that this report includes its activity in the resolution of claims and complaints from investors about the entities and products with which they operate, as well as in dealing with their doubts and queries, in the field of the provision of investment services. investment. The CNMV reminds that it is a free service that any investor can access.
In relation to the 851 writs processed, 76.6% of them ended with the issuance of a reasoned final report. This report was favorable to the claimant in 54.6% of the cases –compared to 51.6% in 2020– and unfavorable in the remaining 45.5% –compared to 48.3% the previous year–.
The CNMV points out, however, that although the claim may have been admitted for processing, the process may be completed before its Claims Service prepares the final reasoned report. Thus, 23.4% of the total claims admitted in 2021 did not require the issuance of a reasoned final report: 21% were resolved by the entity acquiescing to the claims of the claimant or an agreement between the two, 1.8% by withdrawal of the claimant and 0.6% for supervening inadmissibility.
On the other hand, in the cases in which the pronouncement was favorable to the claimant, the percentage of acceptance of the conclusions contained in the reports by the entities and the subsequent rectification of the situation vis-à-vis the claimant was 81.5% compared to to 70.3% in 2020.
This data suggests, according to the supervisor, that, despite the fact that the CNMV’s pronouncements are not legally binding, its reports mean that “in a very high percentage of cases, clients obtain a favorable solution”, avoiding the judicial process. “Only 66 claims throughout Spain in which the client was right, in the opinion of the CNMV, were left unattended by the entities in 2021,” the supervisor adds.
The CNMV raises to 87.7% the percentage of files in which the entities have reached agreements with the claimants, if the raids that occurred in the year are added.
The average processing time for claims resolved with a reasoned final report (both favorable and unfavorable) was 109 days compared to 121 in 2020. In the case of those resolved without said final report, the average term was 49.3 days compared to 51 in 2020.
The claims finalized in 2021 included a total of 1,109 cases, highlighting those related to the information provided about the product after its contracting (23.3%), the commissions charged by the entities (21.4%) and the purchase and sale orders of products (21%).
Regarding the type of product claimed, 41.1% of the cases were related to collective investment institutions, while the rest alluded to other types of transferable securities, such as capital instruments, bonds and obligations and financial derivatives, among others. .
The type of entity against which the most investor complaints were directed were national credit institutions, with 82.3% of all complaints, a figure that is explained by their market share in investment services. They are followed by foreign credit institutions with 6% of claims and, specifically, the branches of community credit institutions.
Only 2.3% of the written claims were directed against investment services companies (ESI) or management companies of national IICs. However, 6.2% referred to foreign investment firms.
The CNMV has also collected data from the entities regarding their customer care services (SAC) of the entities. In this regard, he points out that the percentage of claims that, after passing through the SAC, are subsequently processed in its claims service in the same year is “very low”.
This “would show the correct functioning of the system, in which the client goes to the entity in the first instance and, if he cannot resolve his disagreement, he resorts in the second instance” to the CNMV, he explains.
In total, the entities received 13,113 claims during 2021, of which 4.8% (632 claims) would have subsequently passed to the CNMV, although this percentage was 1.7% in 2020.
In 2021, 10,421 inquiries were received from investors, 6.5% less than in the previous year. The majority, 83.2%, were made by telephone through the CNMV’s investor service telephone line. The rest arrived through the electronic form (13.8%) or through the general registry (3%).
Among the issues addressed by investors last year, queries on ‘financial beach bars’ stand out, which increased by 25%; the suspension of the activity in Spain of the Cypriot investment firms Depaho Ltd or Forex TB Ltd; or about changes in contractual conditions as a result of the merger of entities that provide investment services.
In the report, the CNMV mentions the queries regarding the takeover bid for Barón de Ley for its delisting, as well as the takeover bid for Zardoya Otis. The requests for information focused on knowing the procedure and deadlines for its authorization and the price at which the offer was set.
They have also motivated queries about the capital increases of OHL and Dia, the failure to present the accounts of Abengoa and the restructuring process of Codere, and its subsequent dissolution.
