Regulatory Alerts2013-02-19
Circular 1/2013 of 30 January from the National Securities Market Commission on the Communication of Information Relating to Investment Service Firms and Their Parent Companies and to Management Companies of Collective Investment Institutions
The National Securities Market Commission (CNMV) issued Circular 1/2013 to establish a unified and systematic communication regime for investment service firms (ISFs) and management companies of collective investment institutions (MCIs) regarding modifications to their authorization conditions. The circular mandates prior notification for key executive appointments, requires timely reporting of changes in shareholding structures, branch operations, activity programs, and articles of association, and standardizes electronic submission procedures and deadlines. It repeals previous circulars on information dissemination and agency reporting, ensuring that all relevant corporate and operational changes are promptly recorded in the CNMV's official public registers.