Regulatory Alerts2013-03-23
Royal Decree-Law 6/2013 of 22 March on protection for holders of certain savings and investment products and other financial measures
The Spanish State issued Royal Decree-Law 6/2013 to protect holders of hybrid capital and subordinated debt instruments by establishing a follow-up commission to analyze complaints and facilitate arbitration. The decree grants the Deposit Guarantee Fund the authority and resources to acquire non-listed shares resulting from bank restructuring to provide liquidity to retail clients. Additionally, the law modifies financial regulations to align with EU payment standards, equalize competition for Spanish insurance agencies, and clarify the operational functions of the Bank Restructuring Management Society (SAREB).
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