2 Comments

  1. Sheila Langridge
    December 14, 2020 @ 10:20 pm

    Just 1 question.
    You say ” In Spain, virtually every insurance bond ever provided has been sold to the victims illegally (in contravention of the Spanish insurance regulations). Few victims are ever made aware of the serious drawbacks of these products:”
    So, does this mean victims from outside of Spain were also sold the insurance bonds illegally or not??
    Getting confused with all this keep changing from 1 company/person to take to court to another. Thanks.

    Reply

    • Angie
      December 15, 2020 @ 9:58 am

      Insurance bonds are always sold illegally in Spain. The Spanish insurance regulator – the DGS – is very specific about how insurance products should be sold and makes it clear that no matter in what European jurisdiction a firm is licensed, it must still comply with the regulations of Spain if it operates in Spain. But the sale of insurance bonds in Spain – and in all other jurisdictions – is usually fraudulent. There is no transparency about the hidden commissions paid on the insurance bonds and also on the investments on the insurance bond provider’s platform – and the destructive effects of all these hidden commissions are themselves hidden from the victims.

      Reply

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