García Carrión takes Goldman Sachs before the British CNMV

The Spanish winery J. García Carrión It continues its battle against various financial entities for the alleged execution of foreign exchange operations without its permission, as it defends. Now he takes it to the British FCA, the UK financial services regulator, a sort of British CNMV.

There he filed a complaint against Goldman Sachs this week, explaining that the financial institution “incited the sale of speculative derivatives without authorization and without connection to García Carrión’s business, with obscure implicit fees, and without taking into account the regulation related to the communication of the risks and the volume of the business to the client ”, as published this Thursday by Bloomberg, citing a company spokesperson.

García Carrión has already taken Goldman Sachs to court in recent months, both in Spain and the United Kingdom. There he filed a lawsuit before the High Court of Justice of England and Wales, specifically in its Business Litigation section, in response to a previous lawsuit by Goldman, in which it claimed 5.2 million euros from the company that the Spanish company did not pay for these foreign currency operations. According to Goldman Sachs, “for years [García Carrión] it benefited without complaint from the use of derivatives with Goldman Sachs to manage its exposure to international currencies, “the bank told Bloomberg.

This has also been denounced by García Carrión in Spain. The Court of First Instance of Jumilla (Murcia) admitted in March to processing the complaint that the winery company against the US bank, against Bankia and against its former financial director, Félix Villaverde.
In the last days too has done the same with BNP Paribas, another of the financial entities that it had contracted to mitigate its exchange exposure. According to the Financial Times, García Carrión would have lost 75 million euros due to the operations carried out by the French bank.

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