Regulatory Alerts2021-04-28
Royal Decree-Law 7/2021 of 27 April transposing EU Directives on competition, anti-money laundering, credit institutions, telecommunications, tax measures, environmental damage, worker displacement, and consumer defense
The Spanish State issued Royal Decree-Law 7/2021 to urgently transpose multiple EU Directives, including ECN+, the 5th Anti-Money Laundering Directive, CRD5, and CRD6, to avoid infringement proceedings and financial penalties from the European Commission. The legislation strengthens the independence and powers of the National Markets and Competition Commission, establishes a unified public register of beneficial owners, and imposes stricter obligations on virtual currency providers and payment account holders. Additionally, the decree updates regulations for credit institutions, telecommunications, environmental liability, and the protection of workers providing cross-border services.
Share