Regulatory Alerts2015-12-30
Circular 7/2015 of the CNMV Modifying the Annual Corporate Governance and Remuneration Reporting Models
The Spanish National Securities Market Commission (CNMV) issued Circular 7/2015 to update the annual corporate governance and remuneration reporting models for listed companies and savings banks in light of the 2014 Corporate Governance Law. The modification aligns reporting templates with the new Code of Good Governance, removes obsolete sections, and eliminates the requirement for future remuneration policy disclosures in listed company reports while retaining it for savings banks. The new models became effective on December 31, 2015, applying to annual reports for fiscal years closing on or after that date.
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