Regulatory Alerts2013-10-24
Circular 6/2013 of the National Securities Market Commission on Accounting Standards, Annual Accounts, Public Financial Statements and Reserved Statistical Information States of Banking Asset Funds
The Spanish National Securities Market Commission (CNMV) issued Circular 6/2013 to establish specific accounting standards and reporting requirements for Banking Asset Funds (FABs) under Royal Decree 1559/2012. The regulation mandates the preparation of annual, semi-annual, and quarterly reports, defining specific classification criteria for assets, liabilities, and equity while aligning with the General Accounting Plan. It further details the formats for public financial statements and reserved statistical information to ensure market transparency and regulatory oversight.
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