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What is the Ombudsman?

The growth in the number of stock market transactions and their increasing complexity has increased the probability of errors in transactions or irregularities that could affect the legitimate rights and interests of individuals and entities involved in their planning, trading or settlement.

The transformation of stock market traffic as a result of new technologies, globalisation of markets, internationalisation of brokers and other issues has produced big changes in the form of investments and created more opportunities and instruments for savers. But it has also produced more uncertainty and increased the risk of conflicts.

This greater possibility of incidents and controversy makes it advisable to install flexible and quick ways to correct such mistakes or anomalies, providing investors with agile channels to oversee efficiently their rights and interests and resolve any problems that may arise.
In response to these demands, the Bolsa de Madrid decided to establish an Ombudsman on October 22 1991 in order to assist and defend stock market investors.

The Ombudsman is appointed by the Board of Directors of the Bolsa de Madrid and has full autonomy to develop his functions and organise and avail himself of the necessary resources.

Any person or entity that believes its rights and interests have been damaged during stock market transactions has the right to use the services of the Ombudsman.

The procedure is confidential and free. It ends with a Final Report if there is no agreement among the parties concerned.

Complaints and claims can be made against the following entities:

  • Banks and savings banks who receive orders
  • Brokers and broker-dealers who carry out transactions.
  • Companies that issue shares or bonds listed on the Bolsa.

 

 

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