Portugal's CMVM reports 9% rise in complaints in first half of 2026

The Portuguese securities regulator, Comissão do Mercado de Valores Mobiliários (CMVM), recorded 151 complaints received between January and June 2026, a 9% increase compared with the same period in 2025 (138 complaints) and a 14% rise over the previous semester.

Most complaints (73%) were directed at credit institutions. The leading issue remained execution of orders, accounting for 32% of all complaints, followed by custody of financial instruments (19%) and commissions and fees (17%). Issues with the quality of information represented 10% of the cases. Shares were the most frequently cited financial instrument, involved in 42% of the complaints.

In the regulator’s assessment, complainants were found without merit in 58% of the cases, 2% of the complaints were not admitted, 3% were withdrawn by the complainant, and the remaining cases were resolved in favor of the investors.