Events listed in [CNMV] National Securities Market Commission
The CNMV reminds listed companies that they should explain better their Alternative ...
ID 22804
The CNMV (Comisión Nacional del Mercado de Valores) has issued a reminder to listed companies to provide better explanations for their alternative performance measures (APMs) to avoid confusing investors. APMs are financial performance measures that are not defined by accounting regulations or other standards, such as EBITDA, recurrent operating income, or free cash flow. These measures are not standardized and can differ from company ...
Ley 6/2023, de 17 de marzo, de los Mercados de Valores y de los Servicios de ...
ID 22347
The new Spanish law on Securities Markets and Investment Services (Ley 6/2023, de 17 de marzo, de los Mercados de Valores y de los Servicios de Inversión) was published, replacing the legislation in force since 2015. The law aims to create transparent and efficient financial markets to allocate financial resources, promote public savings and integrate the Spanish economy into international financial and trade flows. ...
The CNMV adopts the Guidelines on standard forms and templates to apply for ...
ID 22203
The Spanish National Securities Market Commission (CNMV) has notified the European Securities and Markets Authority (ESMA) of its intention to comply with the Guidelines on standard forms, templates, and formats for permission to operate a market infrastructure based on distributed ledger technology (DLT). These guidelines aim to ensure coherent, effective, and efficient practices within the European System of Financial Supervision (ESFS) and ensure consistent ...
The CNMV analyses the effects of the introduction of the financial transaction tax ...
ID 22166
The Spanish National Securities Market Commission (CNMV) has published a working paper assessing the impact of the introduction of the Financial Transaction Tax (FTT) on Spanish equity markets. The study analyses various dimensions of liquidity, volatility, and trading volume of the secondary markets where Spanish stocks are traded. Two complementary analyses were conducted: a difference-in-differences methodology and a regression discontinuity analysis. The first methodology ...
The CNMV presents the 2023 Activity Plan
ID 21985
The Spanish National Securities Market Commission (CNMV) has presented its 2023 Activity Plan, which outlines 48 initiatives and activities to be carried out over the year. The plan focuses on five strategic lines that extend those followed in the 2021-2022 biennium, including 1. rigorous supervision of securities markets, 2. strengthening the protection framework for retail investors, 3. revitalizing capital markets, 4. monitoring the effects ...
The CNMV approves the Code of good practice for investors
ID 21983
Following a public consultation (please see eventid=16269), which generated great interest and was taken into account to determine the final scope of modifications, the Spanish National Securities Market Commission (CNMV) has released the final Code of good practice for institutional investors, asset managers and proxy advisors in relation to their duties regarding the assets conferred or the services provided (Code of good practice for ...
Public consultation for a Technical Guide on the reinforcement of CIS’s ...
ID 21851
The Spanish National Securities Market Commission (CNMV) started a consultation on a proposal for a Technical Guide on the reinforcement of CIS’s transparency with the specific performance objective and of fixed income CIS with a buy-and-hold strategy. This regulation will revise the standards outlined in Technical Guide 1/2017 on the reinforcement of transparency of investment funds with the specific goal of long-term profitability applied ...