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Ethical communication
Among Caja Madrid's goals is to maximise the quality and readability of its customer communications. It accordingly operates an integrated correspondence service, comprising a single document with details of the movements and balances of all the customer’s Caja Madrid products, as well as an Internet correspondence service with a high degree of personalisation, so the content of mailings is customer defined.
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Symbiosis
Luis Moratilla Contreras
Risk and position control
All written correspondence complies with Personal Data Protection legislation as regards the confidentiality of the information supplied. In 2007, Caja Madrid proceeded to implement the provisions of the EU Directive on Markets in Financial Instruments (MiFID). This Directive seeks to maximise investor protection in all areas of the financial services industry, including the information sent to customers. This must be impartial, clear and in no event misleading, so they understand the nature and risks of the product or service on offer, and the associated costs. The advertising material receiving specific regulatory attention comprises: pre-contractual information; the content of contracts; and post-contractual information (content and frequency of account statements and order confirmations).
Caja Madrid’s quality undertaking in communication also finds expression in its membership of Autocontrol, which it joined in 1999 and on whose management board it currently sits. Autocontrol is an association set up by advertisers, advertising agencies and communications media. Its goals include the safeguarding of consumer and user rights and the defence of fair competition. The mere fact of belonging to Autocontrol certifies that Caja Madrid has no disputes or complaints outstanding, as the association does not accept members who will not abide by its self-regulation precepts.
In accordance with Bank of Spain rules, all advertising copy that so requires carries a registration number (RBE) certifying that it has been reviewed and approved by the central bank. Likewise, all Caja Madrid mutual fund campaigns are previously checked then supervised by the product analysis team of securities regulator CNMV.