Unauthorised 'advisers' are also Uninsured 'advisers', so when things go wrong, as they often do, YOU are not protected!
Many of the Financial
Advisers operating in Spain
are doing so without any regulation, with no authorisation and if anything goes
wrong YOU the client has no recourse to putting this right. Authorised &
Regulated advisers must carry Professional Indemnity Insurance to protect YOU the consumer.
The only acceptable Spanish
Regulators are;
CNMV
Comision
Nacional del Mercado del Valores is the
principal financial services regulator in Spain and responsible for
authorising investment products. A CNMV adviser can be recommended, please email here
DGS
Direccion General de
Seguros y Fondos de Pensions is the Spanish regulator for insurance products
which can be marketed in Spain
FCA
The Financial Conduct
Authority came into existence in April 2013 to replace the FSA. Although FCA is
a UK regulator firms can
receive authority to operate in Spain
It is my very firm belief
that ALL UK pension business should be carried out by FCA regulated and authorised
advisers. If you have any doubts about an adviser please email
me the details, as I can check them for you.
FCA rules tend to be stricter
than their Spanish equivalent but you still need to check the regulation of
these advisers
Warning about the
Unauthorised
When things go wrong, as they do, with
an unauthorised adviser
you have no recourse. This subject appears in my inbox all to often! The
disappointing thing for me is that I see the same names regularly.
You must check BEFORE you invest
To protect yourself, please ask for
help. I can;
·
Check the regulation of an
adviser you already know
·
Check if an advertisement you
see is from a valid company
·
Recommend properly qualified and
regulated advisers who ARE authorised in Spain
Just email me your details with
anything you want to ask
Further Reading
David
Goodall
Financial
Pages in Spain
