The director of communication of the Comisión Nacional del Mercado de Valores (CNMV) (Spanish Securities and Exchange Commission)Antonio Belmonte, has been the protagonist of the 11th Proa Communication Observatory. Belmonte underlined the change that has taken place at the CNMV since last October, when Elvira Rodríguez was appointed president, and he took charge of communications for the public body.
"Before, the CNMV had a very low profile in communication, there were no procedures, nor was there any belief in the importance of communication," explained the dircom. "Now, the communication policy is one of the strategic pillars of the CNMV.. The new chairwoman sees communication as key. I am part of the CNMV's steering committee, without vote but with a voice.
Belmonte assured that "if you don't communicate you don't existand someone else will take your place. Not being in communication, subtracts more than it adds. To stand still in communication is to go backwards". He also stressed that it is important to measure the impact that communication has on the organisation. "After analysing the situation and setting the target audiences, we design a strategic communication plan for one year. The important thing is to achieve the objectives of this plan. And, at the same time, to take advantage of the opportunities that arise, as in the case of Pescanova.
In view of the Pescanova crisisAntonio Belmonte told the audience: "We decided to take the reins and give a firm response to public opinion, in record time. We have made an exercise in transparency and equal treatment of all media. In this way, we have achieved a two-way communication flow. We have taken advantage of this opportunity to gain presence in society, thus improving the perception of the CNMV by civil society and the media.
As the guest explained, "communication requires guidelinesIt is effective if well managed. It requires measuring the impact it has on the business. On the other hand, communication can go where regulation does not, as happened in the case of Nueva Rumasa's promissory notes. Products cannot be banned, but the market can be warned of their potential risks. Moreover, there is a high demand for information from society".
The dircom pointed out that "the CNMV is like the police, but it is not responsible for any theft. Those responsible for the Pescanova crisis are the company's administrators and auditors. The CNMV must investigate and check the data to avoid possible manipulation, but it cannot control everything. From the communication point of view, as it is an extraordinary case, it was necessary to give an extraordinary response. Not coming out in the open was counterproductive. And the reaction of the media and public opinion has been positive.".
Belmonte considers it important to ensure that the media have understood the messages you are communicating: "It is important to ensure that the media have understood the messages you are communicating.The communication director's pedagogical work is very important.. Communication does not generate social alarm, if it is well focused. We are carrying out an exercise in transparency. We have a great responsibility, because if we manage to regain the confidence of foreign investors, the risk premium will fall and the economic situation will improve".
With regard to the social mediaThe CNMV's dircom said that "we are still at the beginning. We consider it one more channel of communication. We don't interact with users yet, but we do have defined audiences, and we monitor what is being said on social media.