Regulatory Alerts2011-04-12
Law 6/2011 of 11 April amending the Law on Financial Intermediaries, the Securities Market Law, and the Royal Decree on Credit Entities
The Spanish State enacted Law 6/2011 to transpose EU Directive 2009/111/CE, thereby amending the legal framework for financial intermediaries, securities markets, and credit entities. The legislation introduces strict requirements for securitization exposure, mandates enhanced cooperation among supervisors for cross-border groups, and establishes new eligibility criteria for hybrid capital instruments. Additionally, it reforms information exchange protocols with the European Central Bank and strengthens the Bank of Spain's supervisory powers regarding remuneration policies and crisis management.
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