Bankers who ignore the Financial Client Ombudsman will be sanctioned up to one million euros

this directors and managers financial institutions (banks, insurers, investment firms and lenders consumption among other companies. chewing most binding decisions new Authority Independent Administrative Financial Client Defense it could be approved with up 250.000 € (minor violations) or a million euros (serious crimes). Second, in addition, a “public condemnation” Upon publication in the Official State Gazette (BOE) of their identity, the nature of the violation and the sanction imposed. This main innovations Introduced by the government draft To create the new institution accessible to EL PERIÓDICO from the Prensa Ibérica group.

In the text reviewed by the Council of Ministers in April, individual responsibility organizations, but only one sanctions regime special. After receiving dozens of claims, the Ministry of Economy created it and at the same time reduced the amount sanctions that may be incurred assets themselves “for themselves” proportionality“. The Government understands that its amount must be lower than that imposed by the State. supervisory bodiesbecause they penalize violations that have an impact on the financial client and the market as a whole, not on specific clients.

sanctions serioustherefore, it has been reduced from the maximum value. 5% to 2% of turnoverwith a new cap two million euroswhile the sanctions temperate to stay %at 1but with a cap maximum 500,000 euros. Violations will be considered serious or minor, depending on the number. affected, repeat behavior or its effects on self-confident customer and stability financial system”. It can also be considered a petty crime. “late or erroneous” compatibility It is one of the binding decisions of the institution.

deterrent effect

The department headed by Nadia Calviño has likewise stopped organizations from considering it a violation. don’t save and don’t contribute new drying documentation Pre-contractual and contractual (including)Bank of Spain, CNMV and General Directorate of Insurance). By Regulatory Impact Analysis Report In addition to accompanying the draft, the Government considers it sufficient already. “deterrent effect” failure to provide the aforementioned documents would clearly be to their disadvantage, and in favor of the customer In the eyes of authority.

Another important change made by the draft is the views of the new institution on this issue. chewing between good practices and financial uses they will not be binding. about Suggestions about the practices and procedures that auditors apply to organizations in relation to their relationships with clients (hereinafter a annual summary same), but not included in any standard and therefore not required for these assets. Therefore, the Agency’s decisions on this matter will not be binding in order to remove any doubts regarding the constitutionality of the companies.

Mandatory codes

In any case, and despite the confusion the name may cause, Code of Good Practice Like the 2012 mortgage and the restructuring of business loans guaranteed by the 2021 ICO, yes forcing them to comply to the organizations to which they are voluntarily affiliated as they are included in the relevant laws. Therefore, the Agency’s decisions on this matter, yes they will be binding At the limit set in April (the amount requested Less than 20.000 Euro). The same goes for the Bank’s Strategic Protocol to Strengthen Social and Sustainable Commitments, which includes a plan to improve care for the elderly and will be expanded in the coming days to increase cash access in Vacant Spain. daily.

Draft and memory sent to a few people advisory bodies Publication of the opinions of the state is also an issue that the Institution will determine as an innovation. compensation between the business and the customer 100 and 2,000 euros when is the claim no economic content; will have the character of non-binding decisions expert report if the client decides to sue your asset in court; that consumer associations they can make claims on behalf of the injured parties, but not take collective action; and your assignments president and vice president must be approved by the institution. absolute majority for him Congress.

Source: Informacion


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