CECA and 18 other public and private entities will cooperate to reduce attempts at financial fraud, restrict its advertising and provide new tools for consumers.
Measures will include information campaigns to warn about new trends in fraud and the promotion of financial education.
CECA has today signed the general protocol of the Financial Fraud Action Plan to enhance and improve the prevention and fight against potentially fraudulent product and service offers, which cause serious detriment to investors and the entire regulated financial sector.
The Plan, promoted by the Spanish National Securities Market Commission (CNMV), seeks to establish measures to reduce the capacity for action and expansion of financial fraud attempts, to restrict the advertising of activities that seek to attract new victims, and to provide financial services customers with the necessary tools and knowledge to avoid becoming a victim.
The nineteen public and private institutions that have signed the Action Plan today in an event chaired by the Minister of Economy, Nadia Calviño, seek to increase the security of investors, to which end they will establish a monitoring committee that will be responsible for evaluating new forms of fraud that may appear and proposing new measures.
The participating institutions will cooperate in detecting irregular activities in the offering of financial products and services, establish mechanisms to inform investors, set up direct communication channels between stakeholders, and conduct information campaigns for the general public on the risks of fraud, among other measures.