Regulatory Alerts2011-12-24
Circular 7/2011 of the National Securities Market Commission on Information Brochures on Tariffs and Content of Standard Contracts
The Spanish National Securities Market Commission (CNMV) issued Circular 7/2011 to regulate the content and transparency of information brochures on tariffs and standard contracts for retail clients. The regulation mandates that entities provide clear, standardized fee structures and comprehensive contract terms to ensure high levels of transparency and proportionality between service quality and costs. It establishes specific formatting requirements for fee disclosures, electronic submission procedures for CNMV review, and obligations for public availability of this information.
Share