Evaristo Nievas Gomez - Lawyer / 699654217
Of course, if all the requirements are there, we can get the cancellation done and the reimbursement of your money. The Santander Shares are a complex product and as risky as the Popular Bonds and as the Convertible Bonds of Sabadell.
When the investor becomes shareholder of the bank, the investment acquires the characteristics of an investment of variable income, with the resulting risk of loss of invested capital; it is obvious that this is a very complex and risky product and in practice it has resulted in the loss of almost the whole investment of clients who signed up for those known as yellow products. For the Supreme Tribunal, it hasn't been confirmed that the bank complied with the “obligation to compile information and filter out clients”, and they didn't either provide the sales' people with “any instruction or directives that would aim at providing objective criteria to get the adequate product for the clients depending on their profile”.
The Supreme Tribunal, therefore, confirmed that there are fines of 10 and 6,9 million Euros for Banco Santander for the sale of “Valores Santander” (Santander Shares), rejecting the appeal from the bank. The Supreme Tribunal confirms that the distribution of a leaflet with the summary of the product giving the date of assessment of the shares isn't enough to comply with the obligation of information regarding the risk of loss.