Regulatory Alerts2019-03-05
Agreement of 20 February 2019 of the Board of the National Securities Market Commission approving the code of conduct regarding investments by non-profit entities
The National Securities Market Commission (CNMV) approved an updated code of conduct governing the temporary financial investments of non-profit entities to replace the 2003 version. The code mandates that entities maintain adequate human and material resources, establish investment committees for significant portfolios, and adhere to principles of liquidity, diversification, and capital preservation. Non-profit entities are required to publish an annual report detailing their compliance with these principles and explaining any deviations.
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