The National Securities Market Commission (Spanish: Comisión Nacional del Mercado de Valores) (often abbreviated as CNMV) is the Spanish government agency responsible for the financial regulation of the securities markets in Spain. It is an independent agency that falls under the Ministry of Economy.
CNMV is responsible for the oversight and regulation of the capital markets sector of the Spanish financial services industry. The site contains information on the markets, listed companies, and investment firms. This resource is available in Spanish with a limited English translation.
Spain is an EU member state, and CNMV's financial regulations and operations comply with the European MiFID financial harmonization law.
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1. Safety of Client Funds：
Clients funds should be put into segregated accounts.
2. Requirement on Forex Brokers' Reports：
Investment firms and credit institutions are required to report to CNMV complete and accurate details of transactions in financial instruments as soon as possible or no later than the close of the next business day. They also need to deliver annual audit reports as well as anti-laundry reports.
Generally speaking, CNMV-regulated broker profile will be found at the Registration files page on CNMV website. Try to find it and check if it will match the info from the broker website.
The detailed steps are as follow:
1. Find the name of the forex broker, which you can get from the broker’s website;
2. Enter the name into the search bar on http://www.cnmv.es/portal/Consultas/BusquedaPorEntidad.aspx ;
3. A firm may belong to different categories. Choose the appropriate category to view the broker’s contents.
4. You will click the 'Programa de actividades' and check if the broker has the authorization to provide 'i. Financial contracts for differences' under 'Investment services and activities' or 'Foreign exchange services where these are connected to the provision of investment services' under 'Ancillary services and activities' to 'Retail' customer;
If the broker is an EEA authorised firm, you need to check further information in its home state regulator.
When you have disputes with a CNMV-regulated broker, you can proceed the following ways:
1st way: The recommended way is to contact the broker directly and discuss with them to find a solution.
2nd way: If you're not satisfied with the broker's solution, try to contact CNMV in Spain, which helps to solve the disputes between the forex broker and the investor.
you can submit a complaint to CNMV through the following channels:
● Submit your complaint online after completing your registration:
● Submit a form addressed to CNMV’s Complaints Service: Edison, 4, 28006 Madrid – Passeig de Gràcia, 19, 08007 Barcelona.
3rd way: If the first 2 ways above can't solve the dispute, the last way is to issue a case to the court in Spain.
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