Preferential stocks in Spain
Lead NCPSpain
Supporting NCP(s)None Selected
DescriptionSpecific instance notified by an individual regarding the activities of several financial institutions in Spain.
Theme(s)Consumer interests
Date10 Jul 2012
Host country(ies)Spain
SourceIndividuals
Industry sectorFinancial and insurance activities
StatusConcluded
Summary

In July 2012 the Spanish NCP received 15 requests for review from an individual alleging that several financial institutions had breached the consumer interests provisions of the Guidelines in Spain. Specifically it was alleged that the financial institutions did not provide all relevant information to their clients before the sale of complex financial products.

After completing an initial assessment, the NCP concluded the specific instance because all the issues at stake were being dealt with by the relevant national authorities.

However in 2015 the individual has renewed their request for the NCP's assistance and the NCP is currently analysing whether this request merits further consideration.