Regulatory Alerts2009-12-18
Circular 3/2009 of the Bank of Spain, of December 18, amending Circular 6/2001 on holders of currency exchange establishments
The Bank of Spain issued Circular 3/2009 to amend Circular 6/2001, centralizing documentation reception at headquarters and mandating the telematic submission of reports to enhance supervisory efficiency. The regulation updates reporting thresholds for quarterly and annual financial statements, introduces new transparency requirements for publishing exchange rates and fees, and aligns accounting formats with recent Spanish general accounting plans. It also establishes strict electronic filing obligations for changes in ownership, management, and branch operations, with transitional provisions requiring specific historical data submissions by July 2010.
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