The CNMV and Autocontrol join forces to strengthen responsible financial advertising

The agreement establishes a framework for cooperation between the two entities with the aim of improving investor protection by promoting compliance with advertising regulations and transparency of the information disseminated by participants in the financial markets.

The collaboration includes, among other actions, the recognition of the effectiveness of preventive self-regulation mechanisms, especially through the procedures for prior review of Copy Advice® advertising, managed by Autocontrol, as well as the provision of relevant information for the exercise of the CNMV's supervisory functions.

During the signing ceremony, held at the headquarters of the CNMV, its chairman, Carlos San Basilio, stressed that trust in the financial markets is also built through transparent, rigorous and understandable advertising, which allows citizens to make better-informed decisions and contributes to a better functioning of the markets.

For his part, the president of Autocontrol, José Miguel García-Ganso Martínez, pointed out that the agreement reinforces collaboration with the CNMV and highlights the effectiveness of preventive tools such as Copy Advice®, a commitment to prevention that the entity will soon reinforce with the launch of the Training Certificate for financial influencers.

The agreement will also allow for the development of joint activities of dissemination, training and studies on good advertising practices, as well as financial education initiatives aimed at preventing and detecting financial fraud, with special attention to knowledge of the regulatory obligations applicable to participants in the digital financial information ecosystem, including creators of financial content on social networks, the so-called "finfluencers".

The signing of the agreement is part of the commitment of both institutions to the promotion of clear, balanced and non-misleading commercial communications, at a time of increasing digitalisation of advertising activity and an increase in the presence of financial content disseminated through digital platforms and social networks. Since 1995, Autocontrol has managed the main Spanish system of advertising self-regulation, and the agreement recognises the value of voluntary prior review mechanisms for advertising as a complementary tool to public supervision.