Regulatory Alerts2012-02-04
Royal Decree 303/2012 Regulating the Advisory Committee of the National Securities Market Commission
The Spanish Ministry of Economy and Competitiveness issued Royal Decree 303/2012 to fully regulate the composition and functioning of the Advisory Committee of the National Securities Market Commission (CNMV). The decree expands the committee to seventeen members representing market infrastructures, issuers, investors, credit entities, insurers, professional groups, and investment guarantee funds, while also including representatives from autonomous communities. It establishes detailed appointment procedures, strict eligibility requirements, four-year terms, and specific grounds for dismissal to ensure professional representation and operational continuity.
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