- The number of claims filed fell to 20 from 30 in 2009
- Most enquiries relate to warrants
“The most significant development in 2010 was the number of enquiries relating to the so-called dividend election, i.e. remuneration for shareholders through payment in kind, carried out by companies that issue shares through capital increases”, explained Carlos Fernández, Investor Ombudsman for the Madrid Stock Exchange at the presentation of the 2010 Report.
“Last year 20 claims were filed, compared to 30 in 2009. This sharp decline is satisfactory and evidences that as part of the claims filed are preceded by an enquiry, this Office’s work to disseminate information, in addition to its role as mediator, are proving to be successful”, he added.
Private investors are usually the leading requesters of information, and in 2010 enquiries from this segment accounted for three quarters of all requests for information. Market members and financial entities ranked second although a slight decrease can be observed (16% of total enquiries vs. 18% in 2009).
It is important to note that requests for information currently relate to the market's day-to-day activities, and specifically to significant events reported by issuing companies. Among financial products, enquiries about warrants continued to increase, as in previous years, while requests for information about investment funds diminished substantially.
The rise in enquiries relating to market regulation is notable, in addition to the interest in obtaining more knowledge of these rules. It is precisely this interest shown by private investors in learning about stock market operations and regulations that has reduced the number of claims filed.