Regulatory Alerts2018-12-28
Royal Decree 1464/2018 of 21 December developing the consolidated text of the Securities Market Law and adapting Spanish law to EU financial markets regulations
The Spanish Ministry of Economy and Enterprise issued Royal Decree 1464/2018 to fully transpose the MIFID II regulatory package into Spanish law, significantly modifying the legal regime for investment service companies and regulated markets. The decree establishes strict organizational, governance, and transparency requirements for financial firms, including detailed rules on product approval processes and the prohibition or conditional allowance of inducements to ensure investor protection. It also updates regulations regarding position limits, data supply services, and the supervision of investment firms to align with European Union standards for market stability and efficiency.
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