CNMV's Circular Draft on Advertising of Investment Products and Services
- The Circular will contain rules on the procedures and controls firms should adhere to.
The Spanish regulator CNMV (National Securities Market Commission) revealed today it has submitted a proposal of Circular to public consultation that will develop the Order EHA 1717/2010, of June 11, of Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term and control of advertising for services and investment products, Finance Magnates has learned.
The CNMV’s Circular will contain rules on the procedures and controls institutions should adhere to. It also advises on the content and format of advertising messages, taking into account the criteria that the regulator applied in its supervisory actions, according to the CNMV.
Additionally, it will refer to EHA Order 1717/2010 regarding the actions of the CNMV aimed at the cessation or rectification of certain advertising activities.
The CNMV stated that the Circular will apply to all entities supervised by the regulator, carrying out advertising activities on investment products and services, and firms entitled to provide services in Spain.
It will also apply to other entities, not subject to the supervision of the CNMV, carrying out their own initiatives or entrust third parties with advertising activities aimed at investors residing in Spain.
Application of simplified systems
The structure and approach of the Circular has taken into account the recent Bank Circular of Spain 4/2020 on advertising of banking products and services, according to the CNMV.
“However, in consideration of the size and type of activity of some entities, in particular investment services companies, it is possible that the investment body administration decides to apply simplified systems regarding procedures and internal controls and registration Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term,” the regulator stated.
More information on this subject to come out shortly, market sources say.
The Spanish regulator CNMV (National Securities Market Commission) revealed today it has submitted a proposal of Circular to public consultation that will develop the Order EHA 1717/2010, of June 11, of Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term and control of advertising for services and investment products, Finance Magnates has learned.
The CNMV’s Circular will contain rules on the procedures and controls institutions should adhere to. It also advises on the content and format of advertising messages, taking into account the criteria that the regulator applied in its supervisory actions, according to the CNMV.
Additionally, it will refer to EHA Order 1717/2010 regarding the actions of the CNMV aimed at the cessation or rectification of certain advertising activities.
The CNMV stated that the Circular will apply to all entities supervised by the regulator, carrying out advertising activities on investment products and services, and firms entitled to provide services in Spain.
It will also apply to other entities, not subject to the supervision of the CNMV, carrying out their own initiatives or entrust third parties with advertising activities aimed at investors residing in Spain.
Application of simplified systems
The structure and approach of the Circular has taken into account the recent Bank Circular of Spain 4/2020 on advertising of banking products and services, according to the CNMV.
“However, in consideration of the size and type of activity of some entities, in particular investment services companies, it is possible that the investment body administration decides to apply simplified systems regarding procedures and internal controls and registration Obligations Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you Read this Term,” the regulator stated.
More information on this subject to come out shortly, market sources say.