1988-07-28

Added 2026-09-24

Ley 24/1988, de 28 de julio, del Mercado de Valores (Law 24/1988 of 28 July on the Securities Market)

Spain

Cortes Generales

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Lineage: Superseded

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Superseded by: Law 6/2023, of March 17, on Securities Markets and Investment Services2024
Amended by: Law 32/2011 of 4 October amending Law 24/1988 on the Securities Market2026 Law 2/2011 of March 4 on the Sustainable Economy2025 Law 14/2013, of September 27, on Support for Entrepreneurs and their Internationalization2025 Law 5/2015 of April 27 on the Promotion of Business Financing2023 Law 9/2012 of 14 November on the Restructuring and Resolution of Credit Institutions2022 Order ECC/461/2013 Determining the Content and Structure of the Annual Corporate Governance Report, Annual Remuneration Report, and Other Disclosure Instruments for Listed Companies and Savings Banks2013
+5 more
Law 11/2012 of 19 December on Urgent Measures in Environmental Matters2012 Royal Decree-Law 17/2012 of 4 May on Urgent Environmental Measures2012 Royal Decree-Law 10/2012 of 23 March, amending certain financial rules regarding the powers of the European Supervisory Authorities (Correction of Errors)2012 Law 15/2011, of June 16, amending certain financial rules to apply Regulation (EC) No 1060/2009 on Credit Rating Agencies2011 Law 6/2011 of 11 April amending the Law on Financial Intermediaries, the Securities Market Law, and the Royal Decree on Credit Entities2011
Issued under: Directive 2003/6/EC of the European Parliament and of the Council of 28 January 2003 on insider dealing and market manipulation (market abuse)2003
Basis for: Agreement of 5 March 2025 of the Council of the National Securities Market Commission on the Delegation of Competences2025 Agreement of 22 March 2024 of the National Securities Market Commission on Delegation of Competences2024 Law 16/2014, of 30 September, regulating the fees of the National Securities Market Commission2023 Circular 5/2013 of the National Securities Market Commission establishing the models for the annual corporate governance report of listed public limited companies, savings banks, and other entities issuing securities admitted to trading on official securities markets2021 Circular 3/2018 of the National Securities Market Commission on Periodic Information of Issuers with Securities Admitted to Trading on Regulated Markets Regarding Semi-Annual Financial Reports, Interim Management Statements, and Quarterly Financial Reports2018 Circular 1/2016 of the National Securities Market Commission establishing requirements to exempt certain issuers of shares traded exclusively on a multilateral trading system from admitting them to trading on a regulated market2016
+32 more
Circular 8/2015 of the National Securities Market Commission approving notification models for significant shareholdings, directors and their close links, issuer transactions in own shares, and other models2016 Circular 3/2015 of the CNMV on Technical and Legal Specifications and Information for Listed Companies' and Savings Banks' Websites2015 Circular 1/2015 of the National Securities Market Commission on Data and Statistical Information of Market Infrastructures2015 Royal Decree 358/2015 of 8 May amending Royal Decree 217/2008 on the legal regime of investment firms and partially amending the Regulation of the Collective Investment Institutions Law2015 Agreement of 11 March 2015 of the Board of the National Securities Market Commission on the Delegation of Powers2015 Royal Decree 83/2015 of 13 February amending Royal Decree 1082/2012 on Collective Investment Institutions2015 Resolution of 30 January 2015 by the National Securities Market Commission establishing the procedure and conditions for payment via collaborating entities in tax collection management and by telematic means of the fees applicable to activities and services provided by the CNMV2015 Circular 2/2014 of the CNMV on the exercise of regulatory options regarding solvency for investment firms and their consolidatable groups2014 Order ECC/757/2014 authorizing BME Clearing, SAU to modify the general conditions for energy underlying asset contracts2014 Circular 1/2014 of the CNMV on Internal Organization and Control Functions of Investment Service Entities2014 Order ECC/2515/2013 of 26 December developing Article 86.2 of the Securities Market Law 24/19882014 Circular 7/2013, of 25 September, of the National Securities Market Commission, regulating the procedure for resolving complaints and inquiries against investment service providers in the securities market2013 Circular 6/2013 of the National Securities Market Commission on Accounting Standards, Annual Accounts, Public Financial Statements and Reserved Statistical Information States of Banking Asset Funds2013 Order ECC/1556/2013 Authorizing MEFF to Separate Trading, Clearing, and Settlement Functions2013 Circular 3/2013 by the CNMV on information obligations for investment service clients regarding the assessment of financial instrument suitability and appropriateness (Amended by Circular 1/2014)2013 Order ECC/680/2013 of 8 April authorizing the modification of Articles 11 and 12 of the Regulations of the Society for the Management of Securities Registration, Clearing and Settlement Systems, S.A.2013 Circular 1/2013 of 30 January from the National Securities Market Commission on the Communication of Information Relating to Investment Service Firms and Their Parent Companies and to Management Companies of Collective Investment Institutions2013 Order ECC/2405/2012 authorizing MEFF to act as a Central Counterparty for fixed-income securities and amending its regulations2012 Agreement of 1 November 2012 of the National Securities Market Commission imposing restrictions on short selling and similar transactions2012 Resolution of 31 October 2012 by the National Securities Market Commission Modifying Annex I of Normalized Electronic Documents2012 Agreement of 18 October 2012 by the National Securities Market Commission extending the precautionary prohibition on short selling of Spanish shares and initiating notification to ESMA2012 Agreement of 23 July 2012 of the National Securities Market Commission on the precautionary prohibition of transactions establishing or increasing net short positions on Spanish shares2012 Agreement of 15 February 2012 by the National Securities Market Commission lifting the precautionary prohibition on short positions in Spanish financial sector shares2012 Royal Decree 303/2012 Regulating the Advisory Committee of the National Securities Market Commission2012 Circular 7/2011 of the National Securities Market Commission on Information Brochures on Tariffs and Content of Standard Contracts2011 Agreement of 28 September 2011 of the National Securities Market Commission regarding short positions on Spanish financial sector shares2011 Agreement of 25 August 2011 of the National Securities Market Commission regarding short positions on Spanish financial sector shares2011 Agreement of 11 August 2011 of the National Securities Market Commission regarding short positions on Spanish financial sector shares2011 Resolution of July 28, 2011, of the Board of the National Securities Market Commission regarding evidentiary value of supervisory findings2011 Royal Decree 771/2011 of 3 June modifying Royal Decree 216/2008 on own funds of financial entities and Royal Decree 2606/1996 on deposit guarantee funds2011 Resolution of 21 December 2010 of the National Securities Market Commission Publishing the Regulation of the Official Secondary Market for Futures and Options (MEFF)2011 Circular 2/2007 of the Bank of Spain. Public Debt Market in Book Entry (BOE of February 14)2007
Referred to by: Royal Decree 1082/2012 approving the Regulation for the development of the Collective Investment Institutions Law 35/20032024 Law 10/2014, of June 26, on the regulation, supervision and solvency of credit institutions. Correction of errors of Law 10/2014, of June 262023 Circular 1/2018 of the National Securities Market Commission on Warnings Regarding Financial Instruments2018 Order ECC/2316/2015 of 4 November on Information and Classification Obligations for Financial Products2015 Circular 2/2015 of the National Securities Market Commission modifying Circular 3/1999 on transparency of operations in official securities markets2015 Law 31/2014 of 3 December amending the Consolidated Text of the Capital Companies Law for the improvement of corporate governance2014
+3 more
Royal Decree 579/2014 developing aspects of the Law on Support for Entrepreneurs and their Internationalization regarding internationalization bonds and debentures2014 Order EHA/2899/2011 on Transparency and Client Protection in Banking Services (Error Correction)2011 Law 25/2011 of 1 August, Partially Amending the Capital Companies Law and Incorporating Directive 2007/36/EC on Shareholder Rights2011

Timeline

Amended 12 times · last 2026-06-23

2026-06-23CNMVLaw 32/2011 of 4 October amending Law 24/1988 on the Securities Marketamends
2025-12-04CNMVLaw 2/2011 of March 4 on the Sustainable Economyamends
2025-04-09CNMVLaw 14/2013, of September 27, on Support for Entrepreneurs and their Internationalizationamends
2024-08-05CNMVLaw 6/2023, of March 17, on Securities Markets and Investment Servicessupersedes
2023-03-22CNMVLaw 5/2015 of April 27 on the Promotion of Business Financingamends

Source: Cortes Generales — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works