Regulatory Alerts2024-02-01
Circular 1/2024 of the Bank of Spain on information regarding capital structure
The Bank of Spain issued Circular 1/2024 to update and harmonize reporting requirements for capital structure and shareholdings across banks, credit cooperatives, credit institutions, payment entities, and e-money institutions. The regulation mandates timely notification of significant acquisitions, increases, or reductions in voting rights and capital, alongside periodic reporting of direct shareholders meeting specific thresholds. It replaces obsolete provisions from Circular 1/2009, extends supervision to payment and e-money entities, and simplifies reporting obligations based on entity size and complexity.
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