Regulatory Alerts2016-12-27
Agreement of 22 December 2016 of the Council of the National Securities Market Commission on delegation of powers
The Council of the Spanish National Securities Market Commission (CNMV) delegates specific regulatory and supervisory powers to the President, Vice President, and Executive Committee under the Securities Market Law. These delegated competencies cover primary market activities such as securities admission, public offers, and takeover bids, as well as secondary market functions including trading suspensions, short selling restrictions, and transparency requirements. The agreement also assigns responsibilities regarding the supervision of financial information, significant shareholdings, and the regulation of derivatives and central counterparties.
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