The Spanish Securities Commission (CNMV) published its 2024 report on investor complaints and enquiries, showing a slight fall in handled case files and a drop in formally admitted complaints, alongside a high rate of firms correcting issues after CNMV intervention. The CNMV closed 1,220 files and reports that, where a final opinion was favourable to the investor, firms accepted the conclusions and rectified the situation in 80.5% of cases, leaving 58 investor-favourable cases without remediation. The complaints service received 1,034 submissions and admitted 759 complaints, down 14.3% from 2023; 39.1% of processed complaints ended with an investor-favourable report and almost 20% ended early after the firm reached an agreement with the complainant. Including 151 cases settled or conceded once CNMV processing began, the CNMV estimates firms satisfied investors’ claims in 87% of outcomes involving favourable reports, concessions or agreements; the average time to resolve a file was 74 days and 62.6% of filings were made electronically. Most complainants were individuals (96.3%), and the most common issues were post-sale information (20%), fees (19.4%), pre-sale information (15.3%) and incidents in buy or sell orders (14.2%), with 59.4% linked to collective investment undertakings and complaints mainly directed at credit institutions. Investor enquiries rose 3.2% to 10,354, mostly handled by telephone the same day, and written questions most often concerned unregistered firms or “chiringuitos financieros” (30%), investment services (20%), and CNMV information services and official registers, alongside themes including sustainable finance suitability questions, CNMV-impersonation scams, and the legality of investment recommendations on social media.

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