Risk 'traffic lights' for financial products are now compulsory, which will not avoid new mass frauds to occur

FACUA-Consumers in Action criticises the Ministry of Economy for having authorised the bank to hide the risk of its most dangerous financial products using the new warning system, compulsory as of this Friday, 4 February. Order ECC/2316/2015, of 4 November, on the disclosure of providing information and classification on financial products, was published in the Boletín Oficial del Estado (Official Bulletin of the State) in November. As a result, it came into force but the regulations gave entities a grace period of three months to comply with it, which expires this Friday, after which it will be compulsory.

The association criticises this traffic light method