The Complaints Service of the National Securities Market Commission (CNMV) recorded in 2025 the highest volume of complaints in the last 10 years. According to the report published this week the supervisor received 1,398 submissions and closed 1,273 files, which according to the institution reflects a growing use by investors of defence mechanisms against banks and other financial entities.
The complaints were mainly submitted by individuals (97.4%) mostly residing in the national territory and through telematic means.
Of the complaints admitted for processing, 40.6% ended with an unfavourable report for the claimant, 34.1% by agreement between the parties before the CNMV made a decision, and 23.3% with a favourable report for the investor.
It is noteworthy that, from this last group, in 82% of the complaints, the entities communicated that they accepted the criteria of the report and/or rectified the situation of the claimant, so only in 27 cases were the client's claims left unsatisfied.
Reasons and classification of complaints
The most common complaints submitted to the CNMV were related to the information provided after the provision of an investment service by the entities (24.9%), issues with buy-sell orders (20.9%), and the commissions charged by the entities (17.7%).
By the type of product referred to, complaints related to collective investment institutions or IIC represented 42.3% of the total, while those referring to other types of securities, such as equities, private fixed income, structured products or derivatives accounted for the remaining 57.7%.
The complaints were primarily directed against credit entities, particularly banks, given the predominant banking nature of the business in Spain, compared to investment service companies and other entities.
