The CNMV wants to prohibit announcements of risk products in football

The CNMV wants to prohibit announcements of risk products in football

The supervisor takes up the secret investigation in the offices to check how they sell to the small savers, within its Plan of Activities for 2019

  The publicity of the 'brokers' and the investment firms that offer risk products in the sponsorship of the soccer teams can have the days counted if the idea raised by the National Commission of the Stock Market (CNMV) on the announcements goes ahead. generalized products such as contracts for differences (CFD's). The president of the institution, Santiago Albella, has shown his "concern" for the proliferation of commercial claims on the shirts of certain players , as well as in the stadiums, because "they are products that are very risky".

  What the CNMV has included in its Plan of Activities for this year is to publish a circular on the advertising of services and investment products, as well as "take measures to restore it to the general public" in the case of CFDs and other assets « complexes » . Signatures such as Plus500, IG or CMC are some in the spotlight. Albella has clarified that it would try to limit the presence of these products in football to CFDs that are "scarcely leveraged", that is, those in which the loss can not be very high, although he has insisted that they are risky. "It does not seem appropriate to trade aggressively in areas where retail investors go," Albella explained when referring to the stadiums.

The president of the CNMV has recalled that there is already a social debate on advertising in the game 'on-line' , increasingly common in all types of spaces, although the performance of the stock supervisor would be autonomous with products with CFDs within your competition In addition, he recalled that in countries like France are prohibited this type of ads. During the next months, the CNMV will analyze what will be its definitive action.

The Action Plan for this year also contemplates retaking the strategy of 'mystery shopping', a technique with which various professionals pose as clients of entities to check whether the marketing methods used by these companies. It was in 2016 that, for the first time, the CNMV carried out these actions, although at that time it did not sanction any incorrect action, something that it could now do. On that occasion it was already warned that some entities had "certain shortcomings" when offering information on risksand costs in the commercialization of financial products in their networks. The supervisor made 450 visits by 179 'mysterious clients' to a representative sample of entities that represented 50% of bank branches in 20 large municipalities of Spain.

On the other hand, Sebastián Albella has been in favor of companies not publishing quarterly financial information if it generates "excessive stress" , although he encourages them to continue doing so. He recalled that Spain "if it is not the only one", is one of the few countries in which it is mandatory to publish quarterly information. "If a company generates excessive stress because it forces you to focus on the short term and lives it in a dramatic way, it is best not to do it," he said. In any case, it is "in favor" of the quarterly accounts to improve the transparency of the companies.