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BANIF Injury Association recommends CMVM for mandatory brokerage with banks



With a press release sent to editors, BANIF's "Boys Association", the Securities Commission recommends CMVM to make non-qualified intermediaries mandatory for intermediaries.

"Nowadays, banks have the right to refuse such situations, so it is very rare that the conflict in this system is resolved by arbitration," he says.

Explains that the ALBOA recommendation derives from a public consultation on amendments to the CMVM on complaints and conflict resolution.

In the ALBOA document signed by lawyer Nuno Silva Vieira, he claims that "any mediation proposed by unqualified investors with a financial intermediary should be mandatory and optional, as is the case in the current regulation."

According to the ALBOA recommendation, for 'duly justified reasons', the financial intermediary cannot agree to participate in the mediation.

But if the financial institution's mediation obligation is not adopted through any technical-legal impediment, then this refusal is "compensated by the guilt of a financial intermediary."

He also pointed out that the financial intermediary should also "be obliged to comply with all the principles guaranteeing good financial intermediation and the settlement of disputes arising therefrom, namely with respect to the principles of cooperation, good faith, proportionality, equality and material truth".


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