The Spanish authority for the supervision and inspection of
Spanish securities markets ("CNMV-Comisión Nacional de
Mercados y Valores") has announced its decision to restrict
advertising of complex financial products. Several football clubs
will be affected by this new rules, among others, Athletico de
Madrid (sponsored by Plus 500), Valencia (sponsored by Libertex),
Sevilla (Ever FX) and Real Madrid (Exness).
On February 2019, CNMV informed about the survey conducted in
the Spanish market regarding the advertising activity of some
financial companies. Last January 30, 2020 the conclusions of this
investigation were published.
Many European countries are already applying this kind of
restriction to protect consumers, so Spain is harmonizing its legal
framework on this matter.
