The CMVM reported receiving 138 complaints in the first half of 2025, compared to 137 during the same period in 2024 and 132 in the latter half of the previous year.
Order execution remained the primary reason for complaints, accounting for 40% of the total, marking a 12 percentage point increase over the first six months of the previous year.
The second most common reason for complaints involved the custody of financial instruments, constituting 20% of the total, with a year-on-year increase of five percentage points in relative importance. These were the only topics that saw a growth in complaints during this timeframe.
There was an observable increase in complaints related to financial instruments, with issues concerning stocks accounting for 40% of the total in the first semester of 2025, bonds at 7%, and complex products at 6%.
Complaints about collective investment schemes decreased, representing 30% of the total, a reduction of five percentage points compared to the same period last year.
In reviewing and concluding 131 complaints during the first half of 2025, the CMVM found that the complainant was not justified in 59% of cases, while in 34%, the regulator found in favor of the complainant.
In the latter instances, the complained entity fully satisfied the complainant’s request, a pattern consistent since 2021.
The remaining percentage covers situations outside the CMVM’s jurisdiction or cases where the complainant withdrew.
