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Real Decree 303/2004, Of 20 February, Which Approves The Regulation Of The Commissioners For The Defense Of The Financial Services Client.

Original Language Title: Real Decreto 303/2004, de 20 de febrero, por el que se aprueba el Reglamento de los comisionados para la defensa del cliente de servicios financieros.

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The complexity that the world of financial operations is reaching and the constant and necessary improvement of the quality of the services provided from the financial sector requires that the system be equipped with the instruments the legal and operational necessary to facilitate the timely flow to the clients of financial services, in order to allow them to carry out in an agile and efficient way their consultations, complaints or complaints to the supervisory authority of each market. It is therefore imperative to facilitate mechanisms that improve the transparency and protection of the clientele of this segment of the economy, which is one of the most important sectors in the current Spanish economy.

Law 44/2002, of 22 November, of measures to reform the financial system, establishes as one of its objectives that the need to increase the efficiency and competitiveness of the Spanish financial system does not give rise to the the protection of customers from financial services. This improves the conditions for the protection of users of financial services. In this context, it is necessary to reiterate the willingness to provide users of financial services with all possible channels to ensure that any complaints, complaints or inquiries are made to the supervisory authorities. A series of protective measures for financial services customers are contained in Chapter V of that law.

First of all, new creation bodies, the Commissioners for the defence of financial services clients, are regulated. These bodies are attached to the Banco de España, the National Securities Market Commission and the General Directorate of Insurance and Pension Funds, with the express purpose of protecting the rights of the user of financial services in the field. They are designed to ensure the effectiveness of their action, and that they are conceived with the character of independence and autonomy, and that they are equipped with the necessary professional and operational means to ensure their effectiveness.

The Commissioner for the Defense of Banking Services, the Commissioner for the Defense of the Investor, and the Commissioner for the Defense of the Secured and the Participate in Pension Plans appear as guarantors of the protection of the interests and rights of financial services customers, and the strengthening of transparency and good practices and financial uses.

For an effective achievement of the proposed objectives, it is anticipated that its designation will be placed on a person of recognized prestige in the economic or financial field, with the corresponding and necessary professional experience. On the other hand, the Bank of Spain, the National Securities and Exchange Commission and the Directorate General for Insurance and Pension Funds, the Bank of Spain, is credited with the maximum autonomy and independence for the knowledge and resolution of the matters entrusted to it.

Finally, the necessary forecasts are adopted to equip the media infrastructure to carry out the functions assigned to them, with the respective complaints services assigned to each Commissioner. administrative units currently existing in the Banco de España, the National Securities Market Commission and the General Directorate of Insurance and Pension Funds, in the terms provided for in Article 27 of Law 44/2002 of 22 November, of measures to reform the financial system.

This royal decree is another step in the process of reforms of the financial system in Spain undertaken lately, on the one hand, in Law 44/2002, of 22 November, in order to increase its efficiency and competitiveness, at the same time as enhancing the protection of customers, users and other subjects acting on financial markets, in particular, in the face of market abuse, and without forgetting the strengthening and improvement of the audit, as well as the convenience of provide our companies with accounting standards that are technically appropriate to their scope and dimension; and another, by Law 26/2003, of July 17, amending Law 24/1988, of July 28, of the Stock Market, and the recast of the Law of Companies Anonymous, approved by the Royal Decree of Law 1564/1989, of 22 December, with the purpose of strengthening the transparency of listed public limited companies, a standard approved in order to ensure the proper functioning of companies through the promotion of transparency and the transmission of information to investors and the market. Finally, the recent Law 62/2003, of 30 December, of fiscal, administrative and social order measures, which establishes, for the purposes of interest, for groups of companies listed on the markets the application of accounting rules The Court of Auditors also held that, in the light of the Commission's decision, the Court of Auditors, the Court of Auditors and the Court of Auditors, the Court of Auditors, the Court of Auditors, the Court of Auditors, the Official secondary markets, precise the contents of the government report This is the case in the case of the Commission. The Commission has also taken the view that the Commission is not in a position to do so.

In this sense, they are to point out, within this process of regulatory reforms, including those that are already in place and those that will see the light in a short term, the development of the communication regime relevant to the the market for issuers of securities, and information on transactions linked by the issuing companies, the simplified accounting system, the regulation of the audit committee, the amendment of the system of opas, the conduct on temporary financial investments by non-profit entities, as well as the demand that the markets be aware of the partnership agreements, so that the conclusion, modification or extension of the partnership agreements will require, as a condition of effectiveness, their publication, communication and deposit, not producing in any other way any effect. The previous forecast extends to those parocial covenants which were concluded prior to the entry into force of Law 26/2003 of 17 July, which will have to be published, communicated and deposited within three months. (a) years, except in the case of a listed company's clothing, in which case it must be made immediately, in addition to the investor's guarantee, in accordance with the law, that the partnership agreements shall be in any ineffective case in the cases referred to in paragraphs 2 and 3 of the provision Third of the repeated Law 26/2003 of July 17.

Article 25 (4) of Law 44/2002, of 22 November 2002, enables the Government to develop the provisions of this law in respect of the figure of the Commissioners and, in particular, the provisions of this law. appointment, hierarchical rank, complaints and complaints resolution procedure and annual memory content to be published.

In its virtue, on the proposal of the First Vice President of the Government and Minister of Economy, with the prior approval of the Minister of Public Administrations, in agreement with the Council of State and after deliberation of the Council of Ministers at their meeting on 20 February 2004,

D I S P O N G O:

Single item. Approval of the Commissioners ' Rules of Procedure for the defence of the financial services client.

The Commissioners ' Rules of Procedure are approved for the defense of the financial services client, which is inserted below.

Single additional disposition. One-stop shop.

1. The Ministry of Economy will establish the necessary mechanisms to ensure the communication of the information systems of the Commissioner for the Defense of the Banking Services, the Commissioner for the Defense, by means of telematic means. Defense of the investor and the commissioner for the defense of the insured and of the Participate in Pension Plans, by means of formats of exchange of information between these and their respective services of claims or equivalent administrative units.

2. It shall also establish the mechanisms necessary to ensure communication by telematic means with the customer service departments of credit institutions, insurance institutions and investment firms and, where appropriate, of the client.

3. In any case, the provisions of the legislation in force and, in particular, the provisions of the Organic Law 15/1999 of 13 December on the Protection of Personal Data will be complied with.

Single transient arrangement. Complaints files or complaints in processing.

The complaints and complaints files filed with the complaints services of the Banco de España, the National Securities Market Commission and the General Directorate of Insurance and Pension Funds found in The procedure for the application of this royal decree will continue to be applied in accordance with the procedure for the resolution of complaints and complaints that has been established by the previous regulations.

Single repeal provision. Regulatory repeal.

Expressly repealed:

(a) Articles 108 and 109 of the Regulation on the management and supervision of private insurance, approved by Royal Decree 2486/1998 of 20 November 1998.

(b) The ninth paragraph, except for the first paragraph of the Order of the Ministry of Economy and Finance of 12 December 1989 on interest rates and commissions, rules for action, information to clients and the advertising of credit institutions.

c) Rules 11. to 27. of Circular 8/1990 of 7 September of the Banco de España on transparency of operations and protection of customers.

Also, how many provisions of equal or lower rank are opposed to what was established in this royal decree.

Final disposition first. Organizational adaptations to the forecasts of this royal decree.

Within four months of the publication of this royal decree in the "Official Gazette of the State", the Banco de España, the National Securities Market Commission and the General Directorate of Insurance and Pension Funds adopt, without increasing public expenditure, the appropriate measures to ascribe to their respective Commissioner for the Defence of the Financial Services Customer their claims services or equivalent administrative units and, where appropriate, appropriate measures for the carrying out of technical functions which the Commissioner is entrusted with, providing administrative and technical support for the processing of inquiries and complaints.

The units and jobs will remain subsisting, without changing the statutory or employment relationship of the staff who serve them with the appropriate management body or center.

Final disposition second. Regulatory enablement.

The Minister of Economy will be able to dictate the precise provisions for the implementation of what is foreseen in this royal decree.

Final disposition third. Entry into force.

This royal decree will enter into force four months after its publication in the "Official Gazette of the State".

Given in Madrid, 20 February 2004.

JOHN CARLOS R.

The First Vice President of the Government and Minister of Economy,

RODRIGO DE RATO Y FIGAREDO

COMMISSIONERS ' REGULATION FOR THE DEFENSE OF THE FINANCIAL SERVICES CLIENT

CHAPTER I

Of the financial services client's defense organs

Article 1. Object.

1. The Commissioners for the defence of the client of financial services created by Article 22 of Law 44/2002 of 22 November, of measures of reform of the financial system, have as object the protection of the rights of the user of services financial. In its virtue:

a) The Commissioner for the Defense of the Banking Services Client will have the powers that this regulation establishes in relation to complaints or complaints and queries that the users of banking services provided by credit institutions authorised to operate on the national territory, as well as the services provided by the valuation companies and by the currency exchange establishments authorised to carry out the sale of foreign tickets and traveler's checks or transfer management abroad. The Commission is not responsible for the knowledge of complaints or complaints made by the users of services provided by credit institutions in which the institution is limited to the marketing of products of inver sion or insurance. the account of entities subject to supervision other than that which corresponds to the Banco de España.

(b) The Commissioner for the Defence of the Investor shall have the powers laid down in this Regulation in relation to complaints or complaints and consultations which the users of the investment services provided by the credit institutions and investment firms, and of unit-holders in investment funds and the shareholders of investment companies that have delegated management to a management company of collective investment institutions.

c) The Commissioner for the Defence of the Insurance and the Participate in Pension Plans will have the powers that this regulation establishes in relation to complaints or complaints and queries that are made by the users of services financial institutions, except in the case of contracts for large exposures, and for the management of pension funds, subject to the supervision of the Directorate-General for Insurance and Pension Funds. It is also for the protection of users of financial services in relation to the activity of insurance intermediaries in accordance with their specific legislation, as well as in relation to credit institutions in the field of the placing on the market of insurance or pension schemes or in their condition as pension fund depositaries.

2. Where a complaint, complaint or consultation corresponds, on the grounds of its content, to the field of competence of two or more commissioners, the file shall be dealt with by the person who has known first of the complaint, and if this is not possible to determine, by agreement between them, by agreement between them in respect of cooperation which, in order to harmonise and improve the practices they use in the performance of their duties, lay down for the provision of the assistance which may be sought in the effective exercise of its powers. In such cases, the Commissioner responsible for dealing with the file shall request the other commissioners to inform the other commissioners of the matters relating to their areas of competence, including such reports in the final report.

3. For the purposes laid down in this Regulation, complaints shall be taken regarding the operation of the financial services provided to the users by the entities referred to in Article 1 and submitted by the taking-up, Any other type of action which is observed in its operation.

They will have to consider complaints submitted by the users of financial services that they reveal, with the intention of obtaining the restitution of their interest or right, specific facts concerning actions or omissions of the entities referred to in Article 1, which are liable to the persons who are liable to prejudice their interests or rights for non-compliance with the contracts, the rules of transparency and the protection of the customer or the good financial practices and uses.

Requests for advice and information on issues of general interest on the rights of users of financial services in the area of transparency and protection of customers are considered as consultations, and on the legal channels for their exercise, as well as those relating to the requirements which the current legislation imposes on the actions which the person concerned may specify, or on the generic characteristics of the different types of proceedings to enforce them and competent bodies for their knowledge and resolution.

Article 2. Conditions of appointment and exercise of their duties.

1. The Commissioners for the defence of the financial services client shall be appointed among persons of recognized prestige in the economic or financial field with at least 10 years of professional experience.

2. The Commissioners for the defence of the financial services client will be appointed by the Minister of Economy. The term of office shall be for a period of five years, without possible renewal for the same office.

The Commissioner for the Defense of the Banking Services Client will be appointed to the Governor of the Bank of Spain. The Commissioner for Defense of the Investor will be appointed to the Chairman of the National Securities Market Commission. The Commissioner for the Defence of Secured and Participated in Pension Plans will be appointed to the Director General of Insurance and Pension Funds.

In the appointments of the Commissioners for the defense of the financial services client will be heard the Council of Consumers and Users.

3. The Commissioners for the defence of the client of financial services shall act independently of any other administrative body, including the bodies or bodies to which they are attached, as well as in relation to the institutions (a) the term of office of the supervisory body or body of supervision to which any action is attached, and with autonomy as regards the criteria and guidelines to be applied in the performance of its duties; which undermines their independence or limits their powers of action.

The Commissioners for the defense of the financial services client will refrain from intervening, without prejudice to being challenged, provided that any of the circumstances mentioned in the law are given as a reason for abstention and recusal of authorities and staff at the service of public administrations.

4. The Commissioners for the defence of the financial services client shall perform their duties in order to avoid conflicts of interest and, in any event, communicate their existence, if not avoidable, to the respective supervisory authorities to which they are responsible. are attached.

The financial services client's defense commissioners must keep secret of how much data and information they receive in the performance of their functions, and they will not be able to use them for their own benefit, nor provide them with third parties and other administrative bodies, without prejudice to the transparency and information obligations imposed by existing legislation.

Likewise, in application of the secrecy and secrecy obligations that fall upon the staff who provide their services to the supervisory body or body to which they are attached, the Commissioners shall refrain from any such communication, demonstration or comment on complaints or complaints and enquiries received, with the only exceptions arising from the publication of the annual report or the strict application of the procedure provided for in this Regulation. They shall also keep the secret secret, even after their term of office, when the data and information are confidential or reserved.

In the matter of secrecy and confidentiality, the codes of conduct applicable to personnel who provide their services to the supervisory body or body to which they are attached shall apply to the Commissioners.

5. The Commissioners for the defence of the financial services client shall not be entitled to any right in the body or body to which they are attached, without prejudice to the right to receive compensation for the performance of their duties. (a) a mica, which shall be determined in accordance with the provisions of the applicable rules on compensation for the service. Their appointment shall be compatible with the exercise of the activity which they have been taking to the time of their appointment, without prejudice to the provisions of this Article. Notwithstanding the foregoing, the performance of the charge may not be combined with the status of a public official in a situation of active service or personnel at the service of the public administrations, nor may it be exercised by those who provide its services. or hold positions in the entities to which their functions or in consumer associations relate.

Article 3. Membership and the duty of cooperation.

1. The Commissioners for the Defense of the Banking Services, for the Defense of the Investor and for the Defense of the Secured and the Participate in Pension Plans are assigned organically to the Banco de España, to the National Market Commission Securities and the General Directorate of Insurance and Pension Funds, respectively.

2. The Commissioner for the Defence of Secured and Participated in Pension Plans will be directly attached to the Director General of Insurance and Pension Funds. The Commissioners for the Defense of the Banking and the Investor Services Client shall have the membership to be determined by the competent body in accordance with the internal regulations of the respective supervisory bodies to which they are assigned.

3. Without prejudice to their membership, the Commissioners for the Defense of the Banking Services, for the Defense of the Investor and for the Defense of the Secured and the Participate in Pension Plans will cooperate closely with the objective of to harmonise and improve, in consideration of their mutual experience, the criteria and practices they use in the performance of their duties, to which the assistance they may receive for the effective exercise of their powers shall be provided.

CHAPTER II

Scope of Action

Article 4. Powers and functions.

1. It is up to the Commissioners for financial services client defense:

(a) Atender, in accordance with the provisions of the current regulations, the complaints or complaints of the users of financial services referred to in Article 1, which are related to their interests and legal rights recognised, as they are already derived from contracts, from the rules on transparency and protection of customers, from good practices and financial uses.

b) Contrasting the necessary information about complaints or complaints, to the effect of verifying and verifying their real transcendence.

(c) To collect all information from the bodies and entities supervising the scope of their jurisdiction, in relation to the files which they are processing, for which purpose the cooperation of the authority may be justified. supervision to which it is assigned in the terms provided for in Article 11.2 and, in any case, subject to the limitations contained in the Organic Law 15/1999, of 13 December, on the Protection of Personal Data.

d) To advise, in the light of the consultations they make, the users of financial services on their rights in terms of transparency and protection of the clients and legal channels for their exercise.

e) Develop an annual memory with the content set out in Article 18.

(f) to issue to the supervisory services concerned those files where there is evidence of non-compliance or breach of rules of transparency and protection of the customers in accordance with the provisions of the Article 24 (a) of Law 44/2002 of 22 November of measures for the reform of the financial system.

g) Propose to the respective supervisory or regulatory authority those regulatory changes that are appropriate for the best safeguard of the rights of users of financial services in the field of transparency and protection of customers.

(h) To inform, when requested by the supervisory body or body to which they are attached, prior to their adoption, the regulatory standards that are dealt with in the area of transparency and protection of users of financial services, in their respective fields of action.

(i) serving as a liaison and communication body with institutions and bodies, national and foreign, which fulfil or have powers similar to those laid down in this Regulation, without prejudice to the provisions of this Regulation; paragraph 3 of this article and the collaboration that may be established with financial institutions for the dissemination of information activities related to the functions of the commissioners.

j) Promote actions aimed at facilitating the knowledge of financial services users of the rules on the transparency and protection of customers, as well as good practices and practices financial.

k) Inform, when requested by the supervisory body or body to which they are attached, the adequacy of the operating regulations of the customer's customer and customer services departments or services the legal regime established by the Ministry of Economy.

(l) Carry out the activities of the criteria which serve as a basis for the resolution of the files which are dealt with in the field of their competence.

2. The services of claims or equivalent administrative units assigned to the respective Commissioner for the defense of the financial services client, in its function of administrative and technical support, will be responsible for the processing of the complaints or complaints and inquiries, and it is up to them to receive the documents, to demand the actions related to them, to instruct the files, to complete and to transfer the actions, to cure all the communications and, in general, the acts In the case of the case, the proposals for a report on the conclusion of the dossiers.

3. The commissioners for the defense of the financial services client will be able to collaborate for the dissemination of their information activities with the competent authorities in the matter of consumption in the questions that affect the competence of the as well as, for the same purposes, with representative bodies and institutions of consumers and users.

Article 5. Characters and extension.

1. Commissioners for the defense of the financial services client are organs lacking executive and executive functions. Their actions or the reports they issue will not be taken into account for administrative acts, so they will not be subject to any recourse.

The use by the financial services users of the Commissioners for the defence of the financial services client to address their complaints or complaints is without prejudice to the use of other systems of protection provided for in the legislation in force, in particular in the case of arbitration and consumer legislation.

You may not be aware of any inquiries, complaints, or complaints when they are aware that the matter to which they refer is or has been submitted to any arbitration, administrative or judicial body.

2. The actions to which complaints or complaints submitted by the users of financial services may not be the subject of an appeal, irrespective of those which may be carried out in the case of a national court, arbitration or judicial proceedings with those who are related to such complaints or complaints or who may be the result of such complaints, ensuring in any event full respect for the authority of the administrative, arbitration or judicial body. Therefore, complaints or complaints that are made will not be able to affect the possible governmental, arbitral or jurisdictional procedures in progress.

3. It is not the responsibility of the Commissioners for the defence of the financial services client to decide or to rule on the damages that may have been caused to the users of the financial services by the action, including sanctionable, of the entities subject to supervision, nor any economic valuation.

4. In any event, the report which terminates the complaints or complaints shall be binding on the claimant or the entity to which it relates, without prejudice to the submission of the files in question to the supervisory authorities concerned. (a) any evidence of non-compliance or breach of the rules on the transparency and protection of customers within the meaning of Article 24 (a) of Law 44/2002 of 22 November 2002 on measures for the reform of the system financial.

5. Nor in the evacuation of the consultation will it be able to rule on requests for interpretation of the applicable rule in relation to a particular case. The consultations referred to in this Regulation shall be compatible with those which the parties concerned wish to make directly to the supervisory authorities in matters of their competence in accordance with the general rules of procedure.

Article 6. The right to make complaints or complaints and inquiries by financial service users.

1. They may lodge complaints or complaints and consultations as referred to in Article 24 of Law 44/2002 of 22 November, personally or by representation, all natural or legal persons with the ability to act in accordance with the law, (a) Spanish or foreign nationals, who are duly identified, in their condition as financial service users, and provided that they relate to their legally recognised interests and rights, whether arising from contracts, the rules of transparency and protection of customers or of good practices and financial uses, or a consultation on their rights in terms of transparency and protection of the customers and legal channels for their exercise.

2. They are entitled to file complaints or complaints and to make enquiries as users of financial services who are those listed in Article 1, as well as institutional investors when acting in defence of the private interests of its clients, members or investors, policyholders, insured persons, beneficiaries, injured parties or right holders of any of them, as well as members and beneficiaries of pension schemes.

3. They may also lodge complaints or complaints and make enquiries to associations and organisations representing legitimate collective interests of the users of financial services, provided that they affect a particular customer and In the case of collective interests, provided that they are affected and those are legally entitled to their defence and protection and meet the requirements laid down in Law 26/1984 of 19 July, General for the Defence of Consumers and Users, or, where appropriate, in the autonomous legislation on Consumer protection.

When complaints or complaints involve the processing or communication of personal data of users, it will be required to record the express conformity of users.

They will also be entitled to consult the consumer or user information offices and services referred to in Article 14 of Law 26/1984 of 19 July for the Defense of Consumers and Users.

4. For the purposes of paragraph 1, they are regarded as good practices which, without being imposed by the contractual or supervisory rules or constituting a financial use, are reasonably required for the purposes of management. responsible, diligent and respectful of the customers of the financial businesses.

It is considered rules of transparency and protection of the customers that contain specific precepts referring to the entities referred to in Article 1, and that in order to protect the legitimate interests of the (a) a set of specific obligations applicable to contractual relations between each other, require the communication of the basic conditions of the operations and regulate certain aspects of their advertising, action and information.

CHAPTER III

Procedure for filing, processing, and resolving complaints or complaints

Article 7. Form and places of filing of complaints or complaints.

1. Any complaint or complaint may be filed without distinction before any of the Commissioners, regardless of their content, and directly in the services of claims or equivalent administrative units radiating at the site The Bank of Spain, the National Securities Market Commission and the General Directorate of Insurance and Pension Funds, respectively, or its delegations.

In such cases, once the complaints or complaints have been filed, they will be referred to the complaint service or equivalent unit competent for processing.

In the event that complaints or complaints are filed in relation to the performance of entities in the market for public debt in the accounts, it will be in any case transferred for processing to the Service of Claims of the Banco de España, or the competent governing body, if it is a market for public debt in the account of the autonomy of those described in Article 55 of Law 24/1988 of 28 July of the Stock Market.

2. The lodging of complaints or complaints in any of the places referred to in paragraph 1 may be made by the following means:

a) On paper support.

b) By computer, electronic or telematic means.

3. Complaints or complaints shall be made in any case:

(a) The identifying data of the claimant: name and surname, or social name in the case of legal persons, domicile for the purposes of notifications and identification number of the natural persons or entities, or, in their case, details of the public register of the entity concerned. If presented by means of a representative, the representation shall be accredited by any means admitted in law.

(b) The identification of the claimed entity, as well as the office or branch to which the complaint or complaint relates in its case.

c) The reason for the complaint or complaint that is filed in relation to their legally recognized interests and rights, whether derived from the contracts, the rules of transparency and protection of the clientele or the good financial practices or uses, expressly stating that the latter is not pending a decision or a dispute before administrative, arbitration or judicial bodies. In any event, a plea other than adduced in the prior complaint to the customer service department or service or, where appropriate, the client's defender may be alleged, unless it relates to any related facts which would have been after their substance.

(d) Credit that the two-month period has elapsed from the date of filing of the complaint to the department or customer service or, if applicable, client's defender without having been resolved, or that refused admission or was refused, in whole or in part, their request.

e) Place, date and signature.

In addition to complaints or complaints, it must be accompanied by documentation that is essential to resolve the issues raised as a reason for the complaint or complaint, without prejudice to the fact that the commissioner is (a) the documentation required to be in his possession in relation to those documents.

4. If the complaints or complaints are filed by computer, electronic or telematic means, it will be performed in compliance with the requirements necessary in accordance with the regulations in force.

5. Of all complaints or complaints filed, regardless of the form and place of filing, formal constancy shall be given in the receiving unit, irrespective of the services to which the complaint or complaint relates.

6. The interposition of complaints or complaints made under this Regulation shall not paralyse the resolution and processing of the relevant procedures or suspend or interrupt the time limits laid down for the exercise of actions or rights which, in accordance with the regulatory rules, may be exercised by those who appear in them as interested parties.

Article 8. Complaint or prior complaint to the department or customer service or, if applicable, the client's defender.

1. For the admission and processing of complaints or complaints to the Commissioner for the defence of the client of the financial services concerned it will be necessary to prove that they have been formulated previously to the department or service of attention to the client or, if applicable, the client's defender.

2. Refused the admission of complaints or complaints or dismissed, in whole or in part, their request or after the period of two months from the date of their presentation in the service of customer service or, where appropriate, client defender, without has been settled, the person concerned may make his complaint or claim indistinctly before any of the Commissioners, regardless of their content, in the terms set out in the previous article.

3. Received complaints or complaints by the claims services or equivalent units attached to the Commissioner for the defence of the financial services client to which his/her knowledge is due, will verify the (a) the circumstances provided for in the preceding paragraphs, and if the necessary requirements are met, a file shall be opened for each complaint, including all actions relating to the complaint; Otherwise, the claimant will be required to complete the information within 10 days (a) the right of the Member State to take the decision of the European Commission to take action.

4. It will not be necessary for the admission and processing of complaints or complaints to the Commissioner for the defense of the client of the financial services concerned to credit them previously formulated to the department or service of attention to the client or, where appropriate, the client's defender, when they are subject to the delay or non-compliance with a decision which is favourable to the customer.

Article 9. Accumulation of files.

1. The accumulation of files may be agreed for joint processing in the following cases:

(a) In the case of complaints or complaints filed by different persons, and refer to the same entity, which coincide with the substance of the facts or problems highlighted and requests made, or which are matching in their content.

(b) In the case of complaints or complaints made by the same person referring to issues of a similar nature, which do not consist of mere reiteration.

2. The accumulation of files shall not affect the individual mention of complaints and complaints in the statistical summary to be contained in the annual report.

Article 10. Cases and procedure for the inadmissibility of complaints or complaints.

1. Only complaints or complaints will be inadmissible:

(a) Where essential data for the processing is omitted, not subsable, including the assumptions in which the reason for the complaints or complaints is not specified or is not evidenced that the period of two months has elapsed since the date for the purposes of filing with the department or customer service or, where appropriate, an advocate of the client without having been resolved, or that the admission or rejection of the request has been refused, in whole or in part, unless it has the object of the delay or failure to comply with the decision of the department or customer service or, where appropriate, the client advocate that is customer-friendly.

(b) Where it is intended to deal with complaints or complaints within this procedure, other remedies or actions of which the knowledge is the competence of the administrative, arbitral or judicial bodies, or find pending litigation before these bodies.

(c) Where the facts, reasons and requests in which the questions are specified are not related to specific operations or are different from those referred to in the department or service to the attention of the client or, if applicable, client defender.

(d) When they are articulated as complaints or complaints, the consultations on rights in terms of transparency and protection of the clientele, as well as on the legal channels existing for their exercise, without prejudice to the agreement its processing as such a consultation, which will inform the data subject.

e) When complaints or complaints are made that reiterate other previous resolved substantially equal to the same subject and on merit of identical object.

f) When presented to the Commissioner for the Defense of the Secured and the Participate in Pension Plans Claims in relation to collective insurance or pension plans that implement pension commitments of the companies with their employees or beneficiaries, who do not refer to the status of the financial services user of the insurance companies or the pension fund management entities.

(g) Where the time limit for the termination of shares or rights has elapsed than in accordance with the provisions of the contracts or the regulatory rules applicable to them, the person present or the person to whom he or she is representation of the complaint or complaint in question.

2. Where complaints or complaints are not admissible, for any of the reasons set out above, the person concerned shall be exposed to a reasoned report, giving him a period of 10 working days in which to plead his case. Where the person concerned has answered and the causes of admission are maintained, the final decision taken shall be communicated to him.

3. Where there is knowledge of the simultaneous processing of complaints or complaints and of an administrative, arbitral or judicial procedure on the same subject, it shall refrain from processing the first, and the file of the first file, after communication to the data subject.

Article 11. Handling of complaints and complaints.

1. Once the file has been opened for each of the complaints or complaints, or the backlog of files is agreed, within 10 working days, the person concerned shall be informed that the processing is without prejudice to the actions which assist him in asserting his rights and the time limits and channels for his exercise, and that he will not stop the resolution and processing of the relevant procedures or suspend or interrupt the time limits laid down for him. exercise of actions or rights which, in accordance with regulatory regulations, may be exercised by persons The Court of Appeal has held that the Court of Appeal is not in a position to take any action against the Commission in the light of the Commission's opinion.

Within that period, likewise, it shall be transmitted to the entity against which a copy of the complaints or claims and of the documents provided is directed, so that within 15 working days the claims and documentation it should, without prejudice to the fact that it is possible to obtain directly from the claimed entities the precise information for an adequate knowledge of the complaint or complaint lodged. All the requirements that are formulated to the entity must be completed within 15 working days, after which no reply will be made for the purposes of continuing the processing of the file.

2. Where appropriate, the information necessary to deal with complaints or complaints arising from the relevant units of the supervisory body to which it is attached may be obtained, provided that this information is not relevant to the information provided by the supervisory body. subject to the duty of secrecy.

3. The claimant and the claimed entity may access the actions incorporated in the file.

Unless the affected entity expressly consents to it, only the claimant will be given access to information that strictly relates to the facts described in the complaint or complaint.

4. The requested entity shall provide a direct response to the request made, which shall be communicated to the parties concerned, which may, within 15 working days, express their disagreement. This procedure may be waived when the response given by the entity to the requested requirement does not include other facts, allegations and evidence which are adduced by the person concerned in his complaint or complaint.

In the event that the entity in its claims proposes a solution for the claim, it will be communicated to the interested parties, who will be able to express within 15 working days their disagreement, without the possibility of formulating new allegations.

5. After the deadline without the requested entity having made a reply, or after the period laid down in the previous paragraph for the parties concerned to show their possible disagreement, the report to be issued shall be issued. file.

Article 12. Termination of complaints or complaints files.

1. The file must be completed with a report within the maximum period of four months, from the date of filing of complaints or complaints in the services of claims or equivalent units attached to the commissioner to which they correspond. If this is not possible, the reasons which have prevented it must be expressly stated in the final report.

2. Failure to issue the report within that period shall not imply acceptance of the grounds for complaints or complaints. On the expiry of that period without any final report being issued, the person concerned shall be notified of the fact, without prejudice to the obligation to conclude the file, in writing, in writing to the complainant, expressing his opinion by means of the corresponding report.

3. The file will conclude with a report, which will be motivated, and must contain clear conclusions in which it will be stated if the action is taken to break the rules of transparency and protection and whether the entity has adjusted or not good practices and financial uses. In any event, the final report shall give its opinion on all the questions raised by complaints or complaints.

To that end, the complaint service or equivalent unit may draw up a proposal for a report which shall terminate the file, which shall be raised, together with the documents, claims and information contained in it, to the Commissioner, in order to conclude the proceedings.

The report will be formalized by any means that accredit the will of the competent commissioner to conclude with the complaints or complaints files.

4. The report shall be notified to the persons concerned and to the requested entity within 10 working days of their date.

5. In the final report, there is no obligation to apply criteria that have been expressed in previously evacuated reports for complaints or complaints on similar grounds, but should motivate the change of criteria.

6. The completion of the file in the final report of the commissioner shall be informative. The report which it issues shall not be considered as an administrative act and the person concerned shall not be able to appeal against it.

Article 13. Complementary actions.

1. If, in the light of the report in the complaint file, of which there was a loss of damage to the claimant in its relations with the claimed entity, the applicant is in a position to rectify its situation with the claimed entity, as provided for in its conclusions, must be brought to the attention of the corresponding commissioner through the service of complaints or equivalent unit.

The entity shall in any event expressly express, within one month of the reporting of the report, the acceptance or non-acceptance of the stated budgets and criteria in the report, as well as the justification for the justification. documentary of having rectified his situation with the complainant, if any.

Once this communication has been received or after that period, the file of complaints or complaints will be made, the file being communicated to the organ or body of supervision to which it is attached and the file is left as a history of the effects which they have in law. The file decreed shall be without prejudice to the administrative responsibilities or other order in which the institution may have incurred.

If the rectification is produced at any previous time in the file and is to the satisfaction of the claimant, it must also be documented, unless there is an express withdrawal of the person concerned.

In such cases, the file of the complaint will be made without further processing, without prejudice to the provisions of Article 15.

In addition, in the event of a break-in or withdrawal of the parties, without prejudice to the disciplinary or other corresponding responsibilities, the commissioner may make the information to the entity that he considers relevant.

2. If the action taken so far has taken place, the relevant monitoring services shall be referred to the relevant supervisory authorities in respect of any evidence of non-compliance or breach of the rules on transparency and protection of the In the case of the Commission, it is necessary to provide for the necessary measures to be taken into account in the light of the present situation.

3. The commissioner, at the request of the supervisory body or body to which he is attached, may report on the relationship of complaints or complaints received and files dealt with, as well as of the consultations. In all cases, at least on a quarterly basis, you must report on the progress of the corresponding claims service or equivalent unit you have attached.

Article 14. Withdrawal.

Interested parties may desist from complaints or complaints at any time. The withdrawal shall give rise to the immediate termination of the proceedings in respect of the relationship with the person concerned, without prejudice to the possibility for the competent commissioner to agree to his pursuit of the existence of a general interest in the questions raised.

In addition, in the event of the withdrawal of the persons concerned, without prejudice to the disciplinary or other corresponding responsibilities, the commissioner may make the information that he considers relevant to the entity.

Article 15. Sanctionable conduct.

If the handling of complaints or complaints files reveals data that may constitute evidence of sanctionable conduct, in particular, when the breach of transparency or protection rules is in place If there is evidence of criminal behaviour, or of tax, consumption or competition offences, or of other nature, the Commissioner for the defence of the financial services client will bring the facts to the attention of the supervision to which it is attached to the appropriate effects.

CHAPTER IV

Advice function regime

Article 16. Of the consultations.

1. Any consultation may be filed without distinction with any of the commissioners, regardless of their content, and directly in the services of claims or equivalent administrative units radiating at the headquarters of the Bank of Spain, National Securities Market Commission and the General Directorate of Insurance and Pension Funds, respectively, or in their delegations.

In such cases, once submitted, it will be referred to the complaint service or equivalent unit competent for processing.

2. The submission of consultations at any of the places referred to in paragraph 1 may be carried out by the following means:

a) On paper support.

b) By computer, electronic or telematic means.

3. The queries shall include:

(a) Name and surname or social reason and identification number of the person or entity to which the question referred concerns, as well as the address for the purposes of notifications.

b) The background and the concurrent circumstances.

c) The doubts raised by the applicable regulations.

(d) Other data and elements that may contribute to the formation of opinion by the competent commissioner.

4. In no case can the consultations refer to a specific transaction with a given entity, without prejudice to the possibility of considering the appropriate complaint or complaint. They may also not relate to the material conditions of operations provided that they comply with the rules on transparency and protection of customers.

5. If the application does not meet the requirements set out in paragraph 3, the person concerned shall be required to provide, within 10 working days, the absence or accompanying of the precise data, elements and documents, with

indication that if you do not do so, your document will be archived without further formalities.

6. The Commissioner for the defence of the competent financial services client shall file without further the file, with notification to the data subject, the consultations which do not satisfy the requirements laid down in paragraph 3 and are not subject to prior approval. a requirement for this purpose, as well as those which are not admissible in accordance with paragraph 4.

7. The filing of an application shall not interrupt the time limits laid down in the law for the exercise of the rights or suspend the processing of the proceedings. The person concerned shall be informed of such circumstances once the consultation has been received by the commissioner.

8. Received the consultation, the commissioner to whom it is appropriate to advise may, in order to evacuate the corresponding reply, request from the management centers of the agency to which it is attached the reports that it considers relevant for the formation of the criterion applicable to the case raised.

Article 17. Reply.

1. The Commissioner for the defence of the client of competent financial services will answer the question raised, specifying in his conclusions the rights of the applicant in terms of transparency and protection to the customers, as well as existing legal channels for their exercise.

2. The maximum response time shall be one month from the date of submission. Failure to reply within that period shall not imply the acceptance of the criteria expressed by the users of financial services in the consultation.

3. The reply to the consultation shall be informative and shall not have any binding effect on persons, activities or assumptions referred to in the consultation.

CHAPTER V

Annual Memory

Article 18. Content of the annual memory.

1. The Commissioners for the defence of the financial services client shall give an account of the management carried out in an annual report which shall be published and forwarded prior to the supervisory body or body to which they are attached. knowledge. In any case, the content of the annual memory will be as follows:

(a) Statistical summary of the files processed and of the consultations attended with information of the number, origin of the incident, nature of the entity concerned, type of decision, type of claim and amount of these.

(b) Expedients who have completed a favourable or unfavourable report for the claimant, as well as the number of the withdrawal complaints and summary of the complaints.

(c) Entities affected by the reports, with the institution and the files affecting it.

(d) Number and summary of the factual and legal assumptions contained in the files communicated to the relevant supervisory body or body.

e) Number of queries made with indication of those that may be of general interest.

f) Summary of the general criteria contained in the resolution of the queries or complaints applied when they are of general interest.

g) Monitoring of corrections made by institutions in cases where the report of completion of the file has been favourable to the claimant.

(h) Proposals for measures to improve the rules and procedures for the protection of users of financial services.

2. The commissioners for the defense of the financial services client will transmit copy of the annual memory to the National Institute of Consumption.