Regulatory Alerts2013-07-27
Law 11/2013 of 26 July on measures to support entrepreneurship and stimulate growth and job creation
The Spanish State issued Law 11/2013 to implement structural reforms aimed at reducing youth unemployment, supporting small businesses, and improving the regulatory environment for entrepreneurship. The legislation modifies the Securities Market Law to allow pension funds and insurers to invest in alternative markets, lifts capital issuance limits for institutional investors, and updates payment terms and late-payment penalties to combat commercial delinquency. Additionally, it expands financing mechanisms for local entities to pay suppliers and restructures the railway sector by transferring state-owned infrastructure to ADIF.
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