Regulatory Alerts2014-01-10
Order ECC/2515/2013 of 26 December developing Article 86.2 of the Securities Market Law 24/1988
The Spanish Ministry of Economy and Competitiveness, acting through the National Securities Market Commission (CNMV), issues this order to establish the accounting standards, financial models, and reporting frameworks for investment service providers and market infrastructure operators. The regulation empowers the CNMV to define the format, frequency, and detail of both public and reserved financial information to enhance market transparency and supervisory efficiency. Additionally, the order amends previous regulations to align prospectus requirements with EU directives and clarifies the tenure rules for independent directors of listed companies.
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