Legal Information, Terms & Conditions of Use

This website has been created by BEKA Finance, with an informative character and for personal use.

Accessing this website implies knowledge and acceptance of the following terms and conditions. It is recommended that you read the content contained herein with care if you wish to access and make use of the information and services provided by BEKA Finance on this website.

We recommend that the user re-reads these clauses regularly. Continuous access or use of the website by the user means the user accepts any changes that are made. If the user does not agree with these clauses, the user may exit the website.

Terms and Conditions

The contents, commercial activities, products and services included in this website are not designed or aimed at persons who reside in jurisdictions where said contents have not been authorised or are contrary to legal provisions or habits and customs.

The only pages considered part of this website are those found in the site map.

Access to this website is the exclusive responsibility of the users.

Access to this website does not imply engagement of any type of commercial relationship between BEKA Finance and the user.

Accessing and browsing this website implies acceptance and knowledge of the legal warnings, conditions and terms of use contained within.

The user declares under his/her responsibility that he/she is not subject to the Internal Regulations of Conduct of any entity within the stock market environment, and that according to the Securities Market Law, should establish their own.

Updating and Modification of Information

The information contained in this website is timely to date of the latest update. BEKA Finance reserves the right to update, modify or delete information from this website, and can limit or deny access to this website. BEKA Finance does not guarantee, neither does it accept responsibility for the information and materials included on the website from third parties or obtained from sources considered reliable.

This website cannot be altered, changed or adapted by any persons/entity other than BEKA Finance. BEKA Finance reserves the right to make as many changes and modifications as it considers appropriate at any time and without prior notice.

BEKA Finance may modify the content and services that this website provides, including the terms of use, without prior notice. However, any changes to terms and conditions will be notified via this website and applicable as from the moment of their publication on the website.


BEKA Finance makes the maximum efforts to avoid any error in the contents that might appear in this website. BEKA Finance does not guarantee, nor accept responsibility for the consequences that might derive from errors in the contents that could appear in this website that are provided by third parties.

BEKA Finance does not accept responsibility for any discrepancies, even transitory, that could exist between printed documents and the electronic version published in our website. In the case of discrepancies between the printed version and that published in the website, the printed version will prevail.

BEKA Finance accepts no responsibility whatsoever for those contents, commercial activities, products and services included that might be viewed via electronic links, directly or indirectly, via this website. The presence of links in this particular website, save for express declaration to the contrary, has a merely informative aim and in no case implies suggestion, invitation or recommendation of the same. These links do not represent any type of relationship between BEKA Finance, and the individuals or companies publishing the websites to which access can be gained by way of these links. BEKA Finance reserves the right to withdraw the links that appear in its website unilaterally and at any time.

BEKA Finance does not assume responsibility for the content of any forum or debate in cyberspace (chat), newsletters or any type of transmissions that are linked to this website and will cooperate, if required by court order or by relevant authorities, in the identification of the persons responsible for those contents that violate the law.

BEKA Finance repudiates all responsibility that could derive from the transferral of information between users. The responsibility of information distributed on this website belongs exclusively to those distributing it.

Any type of data transmission that users can make to or by way of this website or other accesses controlled by BEKA Finance, that breach third-party ownership rights, and/or whose content is threatening, defamatory, obscene, pornographic, or the transmission of any other material that constitutes or incites conduct that can be considered a criminal offence is forbidden.

BEKA Finance reserves the right to impede or forbid access to any Internet user that introduces any content into the website that violates legal or immoral standards, reserving the right of legal action when it considers opportune.

Market Information

The purpose of the following legal advice is to exclusively regulate the publication of securities information, indices and/or components corresponding to the various securities markets, national and international distributed via this website. BEKA Finance’s terms and legal conditions included in the legal information of this website will be applied to the securities information insofar as it does not contrast the stipulations included in this section.

The information in this website, with the exception of securities data form the Spanish continuous market released in real time, are delayed by approximately 15 minutes, with the exception of the Italian market and the Nikkei and Dow Jones indices that are delayed 20 minutes and Swiss markets that are 30 minutes delayed.

Trading information appearing in this website are in real-time, or delayed time, according to the service contracted by the client. As a general rule, trading prices is delayed 20 minutes. Some foreign indices show the closing price of the prior session.

The securities information distributed via this website are exclusively for information purposes only. BEKA Finance, or its content suppliers, will not be held responsible for the inexact information or errors contained or displayed, and in no case will BEKA Finance or its content suppliers be responsible for any consequences arising from accessing or visualising the information.

The user is solely responsible for the possible operations that could take place. BEKA Finance does not change, manipulate or transform any securities contents data provided by the various markets. BEKA Finance holds ownership and property rights of the data arrangement. The securities markets are owners of the intellectual and industrial propriety rights on indices and components supplied h the exception of those ceded to BEKA Finance.

Navigation, Access and Security

Accessing and browsing this website implies acceptance and knowledge of the legal warnings, conditions and terms of use contained within. BEKA Finance makes the maximum effort so that navigation is carried out under optimum conditions and to avoid damages of any kind that might be caused during the same.

This website has been designed to support Netscape Navigator and Internet Explorer. BEKA Finance does not accept responsibility for damages, of any kind, that might be caused to the users by using other web browsers or versions of web browsers different to those for which the website has been designed.

Access to transactional services and those which include the capture of personal details is carried out in a secure environment using 128-bit SSL (Secure Socket Layer). The secure server establishes a connection in such a way that the information transmitted is encrypted. This ensures that the transmitted content is only intelligible to the client's computer and to BEKA Finance. The user can check that he/she is within a secure environment if in the status bar of his/her web browser a locked padlock appears. The security guarantee of our servers is backed by a certificate issued by the company Verising Inc. This certificate guarantees that the client is communicating personal data to a BEKA Finance server, and not to a third party posing as BEKA Finance’s server.

BEKA Finance accepts no responsibility nor does it guarantee that access to this website will be uninterrupted or free of errors. Neither is it responsible for, nor does it guarantee, that content or software which can be accessed via this website is free from error or causing damage.

Under no circumstances will BEKA Finance be responsible for losses or damages of any kind that arise from accessing or using the website, including but not limited to those caused to computer systems or those provoked by the introduction of a virus. BEKA Finance does not accept responsibility for damages to users that can arise from unsuitable use of this website. In particular, it does not accept responsibility in any way for falls, interruptions, or faults or defects in telecommunications that can happen during operations of a financial nature.

Services offered on this website can only be utilised correctly if the technical specifications for which it has been designed are complied with.

Intellectual and Industrial Property

This website and the contents therein are protected by Intellectual Property laws. The contents may not be subjected to exploitation, reproduction, distribution, modification, public communication, cession or transformation partially or totally via any written, electronic or audiovisual information media, without the express consent by BEKA Finance. Accessing this website gives users no rights or ownership whatsoever over intellectual property rights of the contents that this website holds.

The content of this website may be downloaded to the user's terminal, provided that it is for their own private use and with no commercial purpose; therefore it is forbidden to exploit, reproduce, distribute, modify, communicate publicly, cede, transform or use the content of this website for public or commercial purposes.
BEKA Finance does not transfer the property of its software to the users. The user is the owner of the support on which the software is recorded. BEKA Finance withholds all industrial and intellectual property rights including software. If the user transfers software from this website to their terminal, they may not dissect it for study, decompile or disassemble the software, or translate the original version from one code or language to another code or language.

The trade name, brands, logo, products and services that this website contains are protected by law.

BEKA Finance reserves the possibility of executing legal proceedings against users that violate or breach intellectual and industrial property rights.

Information on the R.D. 1333/2005 concerning Market Abuse

In accordance to Arcticle 10.1 of the Royal Decree 1333/2005, of November 11th, developed by the Law 24/1988, of July 28th, of the Stock Market, regarding market abuse, Recommendation means all information for the public related with one or various stocks or financial instruments or with the Issuers of the latter, including any report on a stock, present or future or price on said instruments that advice or suggest an investment strategy.

BEKA Finance’s Recommendations have been elaborated exclusively with the means to provide information and opinions on stocks and companies analysed to existing or potential clients. Therefore, the opinions and valuations that could be included in said documents do not constitute or form part of any offer for sale or solicitation of any offer to buy any securities; and although the common terminologies accepted in the investment market sector, seem to be, these are only opinions and information to complement the investors own opinions, because in our view, only the investor can make its individual investment decisions, taking into consideration all the information possible and considering the relationship between the expected yield and risk assumed. For BEKA Finance the Recommendations are only part of a wider valuation process and therefore cannot be used exclusively as an investment criteria, without firstly contrasting with BEKA Finance. Consequently, BEKA Finance is in no way responsible (nor by negligence nor any other fundamental) of any losses incurred from using the Recommendations.

All the Recommendations have been elaborated independently. The forecasts, opinions and expectations expressed are solely BEKA Finance’s. Readers are cautioned that the real results could differ substantially from those included in the documents elaborated. BEKA Finance has no authority to provide information or make declarations or guarantees in the name of Issuers or any other person to said effect.

The opinions and forecasts expressed in the Recommendation are solely BEKA Finance’s and professionals accredited for this purpose, and are provided as part of the normal financial research activity, and not as a fund manager or insurer, nor as a mandatory quality on behalf of Issuers nor any other person.

No part of the Recommendations should serve as a base of any type of contract or commitment. If Issuers begin, at any time, a public offer of shares, any decision to purchase shares should be made solely on the basis of the information contained in the official circular to be published or published by the Issuer, and approved by the pertaining regulators, and not the contents of the Recommendations made by BEKA Finance, which are merely complementary information on the investment process. Consult information regarding Market Abuse and Conflicts on Interests (PDF in Spanish, 168 KB).

Data Protection

Visitors to this website are under no obligation to provide any personal information. In the event that the user gives some personal information, the data collected in this website will be used for the purposes, in the manner and with the limitations and rights that are described in the Organic Law 15/1999, concerning Protection of Personal Data. Data facilitated by users will be incorporated into files of a personal character of which BEKA Finance is responsible, and where confidentiality of the information contained therein will be conserved by BEKA Finance.

Personal data provided by users, consent to the incorporation of their data to databases, under BEKA Finance’s responsibility, for a commercial, financial, customised, operative, statistic and activities pertaining to the company, expressly authorising BEKA Finance to extract, store data and realise marketing studies with the intention of adapting offers to the user’s particular profile. BEKA Finance could maintain the user’s data once the relationship with the user has finalised to comply with legal obligations.

BEKA Finance shall delete all data collected when they are no longer necessary for the aim for which they were provided or recorded.

In the case where the data collected is used for a purpose other than that for which they had been obtained or recorded, the prior consent of the interested parties will be required.

BEKA Finance has adopted the adequate technical and organisational safety measures to guarantee the integrity of the data, as well as to avoid their alteration, loss, treatment or unauthorised access.

In compliance with the Basic Law 15/1999 (Ley Orgánica) on the Protection of Personal Data, any user may exercise his/her right to oppose, access, rectify and cancel the information facilitated and withdraw/revoke their authorisation without retroactive effects, according to the legal procedure established. These rights can be exercised by directing the written communication (proving identity) to BEKA Finance’s General Register situated in Calle Marqués de Villamagna Nº 3, 3ª planta, 28001 Madrid.

Loan entities, payment service providers, payment service systems and related technical services could be obliged by the State’s legislation where situated, or agreements with the State, to provide information on transactions to authorities or public institutions in other countries, situated both in and out of the European Union, within the framework in relation to counter the financing of terrorism and organised crime and the prevention of money laundering.
At the moment of data collection the voluntary or compulsory nature of the data being collected will be indicated. The refusal to give data described as compulsory will mean that it will be impossible to access the service for which the data is requested. Likewise, data can be provided voluntarily so that the services offered can be given in the best possible way.

If website users have to provide their e-mail address to access services provided they can state that they do not wish to receive any type of communication that BEKA Finance might send, provided it is not linked strictly to the purpose for which the service was requested. BEKA Finance will offer users that might have been registered in some type of mailing list within this website, suitable mechanisms to unsubscribe from the list.

Accessing this website can involve the use of cookies. Cookies are small amounts of information that are stored in the web browser used by each user so that the server remembers certain information that subsequently only the server that implemented it will read. Cookies have, in general, a limited time duration. No cookie permits the possibility of contact via the user’s telephone number, their e-mail address or through any other means of contact. No cookie can extract information from the hard disk of the user or steal personal information. The only way by which the private information of a user forms part of the cookie file is if the user personally gives that information to the server. Those users who do not wish to receive cookies or who want to be informed of their presence can configure their web browser for this purpose.

Applicable Jurisdiction and Legislation

The terms and conditions that govern this website and all relationships that might arise from it are safeguarded by Spanish legislation.

Any controversy that might derive from accessing or use of this website is subject to the exclusive jurisdiction of the courts system in Madrid (Spain).