Regulatory Alerts2018-07-16
Circular 2/2018 of the National Securities Market Commission modifying Circular 5/2013 and Circular 4/2013 on Corporate Governance and Remuneration Reporting Models
The Spanish National Securities Market Commission (CNMV) issued Circular 2/2018 to modify reporting models for corporate governance and executive remuneration, allowing listed companies to submit these reports in free PDF format instead of mandatory standardized electronic documents. The regulation mandates that entities opting for free-format reports must still attach standardized statistical appendices to ensure data compilation and supervision, while also updating content requirements to align with recent laws on non-financial information and diversity. Additionally, the circular introduces a simplified corporate governance reporting model specifically tailored for institutional public sector entities issuing securities.
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