Regulatory Alerts2023-11-09
Royal Decree 815/2023 developing the Securities Markets and Investment Services Law regarding CNMV registers, cooperation, and supervision
The Spanish Ministry of Economic Affairs and Digital Transformation issued Royal Decree 815/2023 to develop the administrative supervisory powers of the National Securities Market Commission (CNMV) under the Securities Markets and Investment Services Law. The decree establishes a comprehensive framework for official CNMV registers, defines inter-administrative cooperation protocols with national and European authorities, and implements partial transposition of EU Directive 2019/2034 regarding the prudential supervision of investment service firms. It aims to enhance market transparency, legal certainty, and regulatory efficiency by systematizing inspection powers and supervisory procedures previously scattered across various regulations.
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