Events listed in Spain
Circular 1/2023, de 30 de agosto, de la Dirección General de Seguros y Fondos de ...
ID 24984
Circular 1/2023 issued by the Directorate General of Insurance and Pension Funds, introduces a new requirement for insurance intermediaries, including individuals, to use electronic means for their communications and notifications with the authorities. While legal entities (legal persons) in the insurance sector were already obligated to communicate electronically with the supervisory authority, this circular extends the same requirement to individual insurance intermediaries ...
Questions and answers on the regime for prospectuses to be published when ...
ID 24972
The CNMV has published an updated version of its Q&As on the regime for prospectuses to be published when securities are offered to the public or admitted to trading on a regulated market. The document which is aimed at facilitating the implementation of the Prospectus Regulation (Regulation 2017/1129) has been updated as follows: New version of Question 2.8: Issuers must make FTs available to ...
Questions and answers on regulations on CISs, Venture Capital Firms and other ...
ID 24234
The CNMV has updated its Q&A document with the following 18 changes: Page 57: A new question (82 ter) has been added, inquiring about the criteria used by CNMV to require additional warnings for certain investment funds with specific return objectives. The communication also highlights the importance of considering management fees in relation to expected returns. Page 71: A new question (101 bis) asks ...
Information about the situation of Libor
ID 24233
Since 30 June 2023, the Libor USD benchmark has stopped being published in its original configuration. However, as already communicated by the CNMV, 1-, 3-, and 6-month USD Libor settings will continue to be published temporarily using a synthetic methodology based on SOFR until September 30, 2024. This measure allows companies more time to transition to alternative reference rates. The CNMV has issued communications ...
New Code of Good Governance in Cybersecurity
ID 24203
The CNMV published the “Code of Good Governance in Cybersecurity,“ which was prepared by the National Cybersecurity Forum. This code was developed by a group of experts who analyzed existing regulations and standards to improve corporate governance in the field of cybersecurity. The Code aims to provide organizations with practices to support a model of good governance of cybersecurity and facilitate its management in ...
The CNMV restricts CFDs advertising and limits operations of leveraged instruments
ID 24179
The CNMV has published a Resolution to intervene in the marketing, distribution, and sale of financial CFDs and other leveraged instruments to retail investors. The aim is to protect investors from the high risks associated with these complex products. The key points of the Resolution are as follows: – Prohibition of Advertising: Advertising of CFDs to retail investors and the general public, including event ...
The CNMV implements six ESMA guidelines that develop the Regulation on the recovery ...
ID 24111
The CNMV notified ESMA of its compliance with six Guidelines related to the recovery and resolution of CCPs under Regulation (EU) 2021/23. These guidelines are part of the framework for the recovery and resolution of CCPs. The guidelines are divided into two categories: recovery and resolution. Recovery Stage: – Guidelines on recovery plan scenarios for CCPs: These guidelines establish the number of scenarios to ...
Five new firms adhere to the Code of good practice for institutional investors, ...
ID 23901
In a press release by the CNMV it was announced that five additional firms have joined the Code of good practice for institutional investors, asset managers, and proxy advisors (eventid=19876). The total number of adhering firms now stands at six, with Corporance being the first to join as a Spanish proxy advisor. The new firms are **Caser Pensiones, Gestión de Previsión y Pensiones, Fonditel ...
The CNMV implements EBA’s guidelines following common criteria and methodologies ...
ID 23758
The CNMV has informed EBA of its intention to adopt the “Guidelines on common procedures and methodologies for the SREP under IFD“ These guidelines serve as a framework for the CNMV to assess and evaluate specific criteria related to IFs and ensure compliance by relevant entities under its supervisory powers. The main objectives of these guidelines are to provide **detailed information on the common ...
New system related to the admission of fixed-income securities to trading in ...
ID 23717
The CNMV informs about the entry into force of Article 63 of the “Law 6/2023 of 17 March on Securities Markets and Investment Services“ on 18 September, that aims to enhance the competitiveness and appeal of Spanish securities markets. This article brings about significant changes in the supervision of admission requirements for non-equity securities. Under the new regulations, the **CNMV’s powers to oversee compliance ...