Spain Regulator CNMV Launches Channel for Reporting Infringements


As a part of its duty to comply with the ongoing MiFID II Regulations, Spain Regulator CNMV Launches Channel for Reporting Infringements. How can one report an alleged violation to the regulator? What has changed?

9 January, AtoZForex The main financial markets regulator in Spain, the National Securities Market Commission (CNMV) has made a public announcement. The regulator has informed the interested parties about its decision to open a communication channel for possible infringements.

Spain Regulator CNMV Launches Channel for Reporting Infringements

According to the announcement from Spanish regulator, the channel guarantees the protection of the informer and the quality of the data received. The CNMV mentioned the function of this tool. It appears that the feature is already available on the official regulatory website.

Nevertheless, this function aims to further solidify the reception of communications from persons with information about alleged infringements of the rules of order. The CNMV looks into preventing the violations of the discipline of securities markets, as well.

The new Spanish regulatory communication channel has been put in place to meet the requirements that came into force with the recent MiFID II regulatory framework. The unified EU financial markets regulation set has come into force on the 3rd of January. In particular, this CMNV’s function will contribute to compliance with the Market Abuse Regulation No.596/2014.

How to report potential violations to the CNMV?

According to the Spanish watchdog, the data received via this channel will be used to identify possible market abuse infringements. This includes illegal use of insider information and market manipulation. The new communication channel will also aim to minimize the hard that is caused to investors, as well as to boost the transparency and trust in the Spanish markets.

The CNMV states that in case the informer prefers to publicize his/her identity, he/she shall provide the name, occupation, and position, as well as the source of information. The details will guarantee superior credibility to the communication.

In case you would like to remain anonymous, CNMV has proposed the following:

“If you decide not to reveal your identity, you can use the anonymous information tool. Once a message has been sent, the application assigns a password so that the response can be consulted, if you so wish, and to attach documentation related to it. This anonymous method only enables you to send your message, it does not provide additional information (IP address or passwords of any kind) and is designed to protect the anonymity of informers by encrypting messages.”

In order to report any information about possible or alleged infringements, people can send an email to whistleblowing@cnmv.es or call 900 373 362.

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