Portugal Watchdog Flags BBVA MIDAS

Portugal's Comissão do Mercado de Valores Mobillários (CMVM), the watchdog responsible for regulating the Portuguese financial market, issued a warning against BBVA MIDAS for carrying out financial intermediation activities without the proper authorization.

The CMVM clarifies that this entity, contrary to what have been disclosed, has no relation with the authorised financial intermediary, BANCO BILBAO VIZCAYA ARGENTARIA, S.A., SUCURSAL EM PORTUGAL, registered with the CMVM, which is not the subject of this warning or, in any way, intended by it.  

According to the regulator, the company is using or giving out the following details:

Entity Name: BBVA MIDAS

Website: https://bbvam-privileges.com/

The CMVM urges investors to consult the list of Financial intermediaries registered with the CMVM before conducting business with investment firms in order to ensure that a certain entity that provides investment services is authorised to carry out financial services activities in Portugal.

It advises any person or entity that has established any business relationship with persons claiming to represent the above-mentioned entity, may contact the CMVM via the Toll-free number 800 205 339 (support line) or by e-mail at cmvm@cmvm.pt.