Regulatory Alerts2018-12-29
Law 11/2018 of 28 December amending the Commercial Code, the Consolidated Text of the Capital Companies Act, and the Audit Act regarding non-financial information and diversity
Spain enacted Law 11/2018 to transpose EU Directive 2014/95/EU, requiring large public-interest entities with over 500 employees to disclose non-financial and diversity information in their management reports. The legislation mandates detailed reporting on environmental protection, social matters, employee treatment, respect for human rights, and anti-corruption measures, alongside specific diversity policies regarding the administrative bodies. It also clarifies the limited scope of auditors' verification duties to confirming the provision of this information and updates related corporate governance and audit laws.
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