Ethics and transparency in advertising and communication with customers

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All written correspondence complies with personal data protection legislation as regards the confidentiality of the information supplied. In addition, Caja Madrid has implemented the European Union 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, which must be impartial, clear and not misleading in any way, so that clients understand the nature and risks of the product or service offered, and the associated costs. The materials receiving specific regulatory attention include pre-contractual information, the actual contracts themselves, and post-contractual information (content and frequency of account statements and order confirmations). Read more MiFID

Caja Madrid’s commitment to ethical and transparent communication also finds expression in its membership of Autocontrol, which it joined in 1999 and on whose executive 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 or maintain members who do not agree to abide by its code of self-regulation.

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 cleared and then supervised by the product analysis team of securities regulator CNMV.