OCU considered insufficient CNMV's attempt to limit transfer fees

According to the circular of the CNMV published yesterday in the BOE financial institutions may continue charging fees for transfer of securities they want, they inform them in your brochure more frequent rates. They must do so as a percentage of the value of the securities transferred by the maximum amount they wish to apply.

For OCU is a very warm round as it is left to the will of the entities to reduce what the CNMV recognized as high and disproportionate amounts that consumers were supporting this concept and in practice serve to prevent or deter broker change. Therefore although the CNMV considers that these commissions must serve exclusively to cover evenly the service provided and should not limit competition or "hold" to consumers, from OCU is doubt as to the actual effectiveness of this new circular reduce the disproportionate commissions.

This initiative of the CNMV falls short. Since doing time the organization had been denouncing the high level of these committees in practice they limited the rights of consumers. OCU recalls that not only are excessive transfer fees for consumers. Unfortunately, to trust an intermediary without being aware of the fees that will be applied later can be very expensive.

OCU recommends those with investments in the stock market always looking for an intermediary copper fitting service provided commissions, but also monitor other aspects such as the guarantee fund that would cover you in case of insolvency and protection can be very different depending on the intermediary is chosen. And as far as possible they come to analysis by independent experts as the OCU to be guided.