CMVM
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​Litigation between private individuals – Recourse to the courts


Following the complaints by private individuals, the CMVM may attempt to effect conciliation with the interested parties. However, if no agreement is reached, only the courts have jurisdiction to assess and adjudicate possible claims of compensation. Thus, the following is highlighted:

  • The CMVM does not have the jurisdiction to assess and adjudicate contingent claims by private individuals, in particular compensation (not even within the ambit of a legal action being instituted when all the facts relating to a complaint fulfil the conditions of a standard misdemeanour).
  • Neither the presentation of a complaint from a private individual to the CMVM, nor the process of conflict mediation which the CMVM may possibly institute resulting from a complaint (not even the possible proceedings of misdemeanour, if applicable) will suspend or interrupt the legal time limits for the individual to have recourse to the courts.”