Sector News

The president of the National Securities Market Commission (CNMV), Elvira Rodríguez, stressed on Wednesday the need to market transparent products to restore investor confidence and for the financial industry to be able to perform with ease in a moment of great competition. “The transparency in the commercialization of the products is an essential aspect to obtain the confidence in our industry and to face the competition in which it is involved”, he pointed out during the inauguration of the I Conference on financial regulation organized by Inverco. In this sense, he emphasized that the supervisor will take advantage of all the new competencies that have been attributed to him, thus enhancing the policy of preventive supervision, as well as promoting transparency. “This type of policy in monitoring benefits us all,” he added. As concrete tools to carry out this task, Rodriguez has cited the figure of the mystery shopper, with which it seeks to dissuade entities from bad marketing practices. “We hope that they contribute to the design and sale of products that are more suited to investors’ needs and are understandable to them,” he said, while recalling that the CNMV has publicly issued a circular in this sense that would complete the semaphore of risks approved by the Ministry of Economy.