2023-06-19 19:36:21
The ascending line of alerts published by the National Securities and Markets Commission (CNMV) has been broken in 2022. In the last year, the regulator published 336 warnings about entities not authorized to act in the securities markets, a figure that represents a reduction of 33.9% compared to those carried out in 2021 (508). Even so, Spain continues to be the country with the second highest number of the set of supervisory bodies of Member States of the European Union and the British supervisor. In fact, the first country is the United Kingdom. At the same time, the CNMV has received 1,747 communications from regulators in other European countries, of which 1,706 referred to “financial beach bars.” The Spanish regulator points out that, as has already happened in previous years, “unauthorized entities continue to adapt their service offerings to new methods of fraud”, something that greatly facilitates direct access via the Internet and social networks.
Although unauthorized entities have reduced in number, fraud awareness has increased. The CNMV received 8% more claims than in 2020 up to 1,371. They also received 756 communications of possible infringements or whistleblowing, 33% more than in 2021. The investigations carried out on the indicated entities led to the publication of 83 new warnings of “financial stalls” and the opening of five disciplinary proceedings. motivated by communications sent through this channel.
During 2022, the supervisor concluded 19 disciplinary proceedings and imposed 45 fines amounting to 6.38 million euros, which is 34% more than the previous year. And regarding the regulation of advertising on crypto assets, the CNMV managed 116 information files and analyzed 957 advertising pieces. In most cases, administrative actions were terminated due to the mismatches detected in these pieces and the average duration of the advertising campaigns has been 150 days. Regarding supervised entities, the CNMV sent a total of 1,231 requirements to supervised entities during the year. Of these, 1,051 had their origin in remote supervision and 180 in ‘in situ’ supervision. In addition, they sent 1,400 requests from venture capital entities, some 1,292 remotely and the rest ‘in situ’.
less income
The CNMV closed 2022 with a revenue drop of 16.3% to 13.88 million euros Over the previous year. According to the regulator chaired by Rodrigo Buenaventura, the decrease is due to the fact that income did not compensate for expenses, which have risen slightly during the last year. Specifically, the original management income of the CNMV was 64.86 million euros, 1.8% less than in 2021, while expenses rose 5.1% to 51.36 million. For their part, revenue from the registration of brochures and entities fell by 3.5% to 9.38 million and the fees charged for market supervision contracted by 5% to 17.5 million euros. The bulk of the turnover comes from the fees to be charged for the supervision of entities and reached 36.1 million euros, 1.1% more than the previous year.
If the figures provided by the CNMV are broken down, the item for personnel rose 3.8% to 35.8 million euros, while the rest of ordinary management expenses were 10.52 million, 7.2% more. At the same time, transfers and grants granted increased by 16.5% to 2.69 million and amortizations reached 2.35 million, 6.3 more. In this way, the result of ordinary management stood at 13.5 million euros at the end of the year, 21.5% less than in 2021, partly due to the result of financial operations, which had a positive impact on the slopes with just over 300,000 euros.
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