Regulatory Alerts2011-08-05
Resolution of July 28, 2011, of the Board of the National Securities Market Commission regarding evidentiary value of supervisory findings
The Board of the Spanish National Securities Market Commission (CNMV) issued this resolution to designate specific departments and personnel whose supervisory findings carry evidentiary value under Article 85.7 of the Securities Market Law. The resolution assigns this probative status to staff within the Departments of Supervision of Investment Services and Credit Entities, Collective Investment Institutions, Primary and Secondary Markets, Financial Reports, and the Market Surveillance Unit. It further empowers the President to designate other technical personnel for this purpose when specialization and efficiency require it, establishing a rebuttable presumption of truth for their recorded facts.
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