Regulatory Alerts2013-03-23
Order ECC/461/2013 Determining the Content and Structure of the Annual Corporate Governance Report, Annual Remuneration Report, and Other Disclosure Instruments for Listed Companies and Savings Banks
The Spanish Ministry of Economy and Competitiveness issued Order ECC/461/2013 to standardize the content and structure of annual corporate governance and remuneration reports for listed joint-stock companies, savings banks, and other entities issuing securities on official markets. The order mandates detailed disclosures regarding ownership structures, board composition including gender diversity metrics, significant agreements, and the transparency of director remuneration linked to long-term performance. It establishes that these reports must be clear, truthful, and submitted electronically to the National Securities Market Commission, reinforcing corporate transparency obligations under recent legislative reforms.
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