2026-10-08
Added
Obliged entities, including notaries, crypto ATM operators, gaming operators, and foundations, must verify client identity for transactions ≥1,000 euros (or ≥2,500 for lottery prizes) and retain records for ten years. Gaming operators must ensure payment method holders match account holders, while issuers must notify the CNMV of voting right changes crossing the 3% threshold within four trading days. Non-face-to-face relationships require document copies within one month, and foundations must implement enhanced due diligence and criminal record checks for governing bodies.
CNMV published 4 documents in the last 30 days — get each new one by email the day it lands.
I. GENERAL PROVISIONS
MINISTRY OF ECONOMY, TRADE AND BUSINESS
20915 Royal Decree 813/2026, of October 7, modifying various royal decrees in the financial sector for their adaptation to the current regulatory framework.
I
This royal decree aims to update regulatory provisions on anti-money laundering, to adapt them to new risks, methodologies, and technological advancements that have emerged in recent years, as well as to new international requirements that Spain must meet as a member of the Financial Action Task Force (FATF). This review is particularly relevant in the context of FATF's mutual evaluation of Spain, which will begin in 2026 and will conduct a comprehensive review of the anti-money laundering and counter-terrorist financing framework. Furthermore, this reform is part of Spain's fulfillment of international obligations assumed within the United Nations framework for the prevention and fight against money laundering and terrorist financing. In particular, it takes into consideration the United Nations Convention against Transnational Organized Crime and its Protocols, done in New York on November 15, 2000, whose articles 6 and 7 relate to the criminalization of the laundering of the proceeds of crime and measures to combat it. Similarly, it addresses the provisions of the United Nations Convention against Corruption, done in New York on October 31, 2003, especially its articles 14 and 23, which establish obligations regarding the prevention of money laundering and the criminalization of related conduct. It also partially transposes Directive (EU) 2024/1640 of the European Parliament and of the Council, of May 31, 2024, on the mechanisms to be established by Member States for the prevention of the use of the financial system for money laundering or terrorist financing, which amends Directive (EU) 2019/1937 and amends and repeals Directive (EU) 2015/849 in those matters that can be incorporated more immediately through this regulatory standard, thus allowing the Spanish anti-money laundering system to remain updated, as well as to resolve certain deficiencies observed during its years of validity. Likewise, this royal decree introduces various specific modifications to regulatory standards in the financial sector in order to adapt them to recent updates of the European Union regulatory framework, improve their internal coherence, or reduce unnecessary or redundant administrative burdens. These reforms include, in particular, adjustments derived from European bank resolution regulations, consolidated supervision rules for investment firms, and the Capital Requirements Directive. Improvements aimed at simplifying and rationalizing certain reporting obligations provided for in the transparency regulations for issuers and in the regime for deposit guarantee funds are also incorporated. In addition, in the area of basic payment accounts, certain non-profit entities of the National Reception System or the Third Sector are allowed to provide information on the risk of financial exclusion in exceptional cases and with prior authorization from the competent authorities in social services. The ultimate goal is to facilitate the accreditation of economic
vulnerability to access free basic payment accounts. The regulatory framework on financial instruments is also modified with the aim of expanding access for companies listed in Spain to other investors and markets, for example, by facilitating simultaneous listing in Spain and in other markets outside the EU and maintaining the main registry in Spain. Finally, the means of payment available to public administrations are made more flexible and expanded, and electronic means of payment such as cards are allowed to be enabled. II This royal decree is structured into the following parts: title of the provision; an explanatory part divided into three sections; an operative part consisting of eleven articles; a single additional provision, three transitional provisions, a single repealing provision, and four final provisions. Articles one and two aim to make the means of payment available to public administrations more flexible and expand them, and to enable electronic means of payment such as cards. To this end, Royal Decree 640/1987, of May 8, on "to be justified" payments, and Royal Decree 725/1989, of June 16, on fixed cash advances, are modified to expressly include reference to bank cards as a means of payment, under the terms provided for in an Order of the Ministry of the Presidency, Justice and Relations with the Cortes, at the joint proposal of the Ministries of Finance and Economy, Trade and Business.
Article three modifies Royal Decree 2606/1996, of December 20, on deposit guarantee funds for credit institutions, to adjust the regulation to Directive 2014/49/EU of the European Parliament and of the Council, of April 16, 2014, on deposit guarantee schemes. Primarily, the objective is to make the accrual date for contributions to the securities compartment more flexible, so that member entities are given more time to inform the Deposit Guarantee Fund of the guaranteed securities that form the basis of calculation.
Article four modifies Royal Decree 1362/2007, of October 19, which develops Law 24/1988, of July 28, on the Securities Market, in relation to transparency requirements regarding information on issuers whose securities are admitted to trading on an official secondary market or another regulated market in the European Union to reduce administrative burdens while maintaining sufficient transparency and better aligned with European regulations: the notification threshold for significant acquisitions of shares during a takeover bid is raised from 1% to 3%, and self-treasury notification obligations are adjusted, requiring notification of operations that result in an issuer's participation exceeding, reaching, or falling below the thresholds of 3%, 5%, or 10%. Furthermore, the requirement to identify and communicate all operations leading to the crossing of these thresholds, provided for in letter c) of article 41, is suppressed, reducing unnecessary burdens, as well as the notification obligation for directors and managers of issuers regulated in articles 25.2, 31, 35.3 and 35.9, 36.2 and 47, and in the first additional provision of Royal Decree 1362/2007, of October 19, due to overlap with the communication regime for operations provided for in article 19 of Regulation (EU) No 596/2014 of the European Parliament and of the Council, of April 16, 2014, on market abuse, and not being required by Directive 2004/109/EC of the European Parliament and of the Council, of December 15, 2004, on the harmonization of transparency requirements regarding information on issuers whose securities are admitted to trading on a regulated market and amending Directive 2001/34/EC. These modifications are aligned with the regulatory simplification strategy agreed within the European Union to improve the competitiveness of community capital markets.
Article five modifies the Regulation of Law 10/2010, of April 28, on the prevention of money laundering and terrorist financing, approved by Royal Decree 304/2014, of May 5. Firstly, certain modifications are introduced in relation to the notarial sector: paragraph 2 of article 3 is suppressed to eliminate the exclusion of notarial and registry acts that lack economic or patrimonial content or are not relevant for the purposes of preventing money laundering and terrorist financing; article 4 states that identification and identity verification must be carried out in all operations performed before a notary; article 31 is modified to specify that notaries must apply anti-money laundering and terrorist financing prevention policies and procedures as established by their centralized prevention bodies, and article 44.2 is modified to strengthen the role of centralized prevention bodies.
Secondly, regarding due diligence, article 4 is also reformed to include that identification and identity verification must also be carried out in operations performed at crypto ATMs.
Likewise, and as a consequence of the approval of Royal Decree 255/2025, of April 1, which regulates the National Identity Document, the necessary adaptations are undertaken to regulate the use of its digital version. Specifically, article 6 is modified to expressly establish that identification may be carried out using both the physical and digital versions, and article 28 is modified so that, for document retention purposes, information obtained through electronic identification means is stored. On the other hand, article 12 is modified so that in cases where, at the start of the business relationship, obliged subjects have not been able to complete due diligence measures, they should assess the appropriateness of reporting by indication, after carrying out the special report referred to in article 17 of Law 10/2010, of April 28. Similarly, in relation to non-face-to-face operations regulated in article 21, two modifications are introduced. On the one hand, for cases where the client's identity is accredited through secure client identification procedures in non-face-to-face operations, it is included as a condition that such procedures comply with the minimum requirements established in the general authorizations published by the Executive Service of the Commission. This modification aims to reinforce legal certainty and the reliability of non-face-to-face identification procedures, requiring that the mechanisms used comply with the minimum requirements established by the Executive Service of the Commission in its general authorizations, ensuring homogeneous and technical security levels. On the other hand, and in relation to gaming operators, article 21 is modified to ensure that the holder of the payment method used in deposits and withdrawals is the holder of the gaming account, thus avoiding the undesirable effects that the current regulation has brought about. Thirdly, in relation to internal control measures, article 31 is modified, on the one hand, to include that obliged subjects must approve in writing and apply appropriate policies and procedures also regarding the application of sanctions and financial countermeasures, and, on the other hand, to suppress the exception previously included for certain obliged subjects to designate a representative before the Executive Service of the Commission for the Prevention of Money Laundering and Monetary Infractions (hereinafter, Executive Service of the Commission). In this regard, article 35 is also modified to establish that, in the case of obliged subjects forming a business group, the representative may designate up to a maximum of three authorized persons.
Article 32 is also reformed so that the prior risk analysis on which internal control procedures must be based is prepared taking into account, at a minimum, the national risk analysis, the supranational risk analysis of the European Union, relevant sectoral risk analyses prepared by the competent authorities, as well as information on the risks of money laundering, terrorist financing, and non-application and circumvention of international financial sanctions and countermeasures provided by the competent authorities.
Fourthly, article 42 is modified to align the regulation of foundations and associations with FATF standards on the matter and the required risk-based approach. This regulation is not applicable to religious entities, which are governed by their specific regulations, comprising Organic Law 7/1980, of July 5, on Religious Freedom, and Royal Decree 594/2015, of July 3, which regulates the Register of Religious Entities.
Likewise, articles 48 and 49 are modified to define the competencies related to the freezing or blocking of funds or economic resources.
Fifthly, articles 63 and 65 are modified to update references to the appropriate competent bodies and to include that the Financial Intelligence Committee will be responsible for preparing the national risk analysis.
Similarly, a new article 66 bis is incorporated, which develops article 44.2.n) of Law 10/2010, of April 28, on statistics, also specifying their content, incorporating the requirements contained in FATF Recommendations 1 and 33.
Sixthly, in relation to the Executive Service of the Commission, the requirements for the appointment of its Director, as well as the causes for dismissal, are regulated, including the end of the period for which they were appointed, resignation, or being subject to a cause of incompatibility.
Likewise, article 67 bis is incorporated to collect the information that the Executive Service of the Commission must send to obliged subjects.
In line with the above, and in accordance with the functions assigned to the Executive Service of the Commission, a new article 67 ter is included relating to the national risk analysis, which develops the provisions of article 44.2 ñ) of Law 10/2010, of April 28, and defines its minimum content; and article 67 quater which regulates the content of the annual report to be prepared by the Executive Service of the Commission, and which will include, among others, data on various statistics, information on trends and typologies derived from files disseminated to other competent authorities or the competencies of the Executive Service of the Commission. Finally, article 68 is modified to enable, through the corresponding agreement signed with the National Commission for the Prevention of Money Laundering and Monetary Infractions, officials from regional police forces with competencies in money laundering, terrorist financing, and proliferation financing to be assigned to the Executive Service of the Commission. In line with this modification, articles 68 bis and 68 ter are incorporated to include the possibility that officials from the General State Administration competent in matters related to money laundering, terrorist financing, and proliferation financing, and statutory personnel from the National Intelligence Center, may also be incorporated into the Executive Service.
Article six modifies Royal Decree 84/2015, of February 13, which develops Law 10/2014, of June 26, on the regulation, supervision, and solvency of credit institutions, strengthening the supervisory collaboration of the Bank of Spain by expressly incorporating all relevant entities of the consolidable group – regulated and unregulated, unregulated subsidiaries, significant branches, parent companies, and competent authorities, in order to adjust its content to the provisions of article 117.1.a) of Directive 2013/36/EU of the European Parliament and of the Council of June 26, 2013, on access to the activity of credit institutions and the prudential supervision of credit institutions and investment firms, which amends Directive 2002/87/EC and repeals Directives 2006/48/EC and 2006/49/EC.
Article seven modifies Royal Decree 1012/2015, of November 6, which develops Law 11/2015, of June 18, on the recovery and resolution of credit institutions and investment firms, and which modifies Royal Decree 2606/1996, of December 20, on deposit guarantee funds for credit institutions, to update the determination of ex-ante contributions to the National Resolution Fund in accordance with Commission Delegated Regulation (EU) 2015/63, of October 21, 2014, supplementing Directive 2014/59/EU of the European Parliament and of the Council with regard to ex-ante contributions to resolution financing arrangements, suppressing the reference to May 1 for determining the contribution to the National Resolution Fund and replacing it with the provisions of the Delegated Regulation, and to clarify the scope of consolidation of the resolution group, excluding entities exempt from the minimum requirement for own funds and eligible liabilities.
Article eight modifies Royal Decree 164/2019, of March 22, which establishes a free basic payment account regime for persons in situations of vulnerability or at risk of financial exclusion, in order to facilitate the accreditation of economic vulnerability to access free basic payment accounts, allowing certain non-profit entities of the National Reception System or the Third Sector to provide information on the risk of financial exclusion in exceptional cases and with prior authorization from the competent authorities in social services.
Article nine modifies Royal Decree 813/2023, of November 8, on the legal regime of investment firms and other entities that provide investment services, suppressing the obligation for third-country entities operating under a free provision of services regime to annually send the CNMV information equivalent to that required for branches, as it is not provided for in European regulations and alternative information channels exist, reducing unnecessary administrative burdens. Likewise, an express authorization is provided for the CNMV to specify and develop the requirements of the corporate governance system of investment firms, as was the case with Royal Decree 217/2008, of February 15, on the legal regime of investment firms and other entities that provide investment services and partially modifying the Regulation of Law 35/2003, of November 4, on Collective Investment Institutions, approved by Royal Decree 1309/2005, of November 4, where a similar provision allowed the CNMV to develop Circular 1/2014, of February 26, of the National Securities Market Commission, on the internal organization requirements and control functions of entities providing investment services.
Article ten introduces a new paragraph in article 34 of Royal Decree 814/2023, of November 8, on financial instruments, admission to trading, registration of negotiable securities, and market infrastructures, to facilitate the simultaneous trading of Spanish securities in foreign markets without the need to transfer the main registry of the issue outside Spain. The reform offers an alternative that allows the central reference depositary to remain in Spain, even when part of the securities are deposited in a central depositary located outside the European Union for trading in another market. For these purposes, the Spanish central depositary is authorized to maintain a technical account, of a global and merely accounting nature, intended to reflect the balance of securities deposited outside the European Union and to verify the correct integrity of the issue. This account does not confer title of legitimation over the negotiable securities recorded in the central registry, so it does not affect their ownership, but it provides greater legal certainty and operational clarity to the model.
Furthermore, this article also specifies the scope of the verification carried out by the market's governing body of the admission requirements for non-participatory securities to trading on regulated markets, limiting it to checking compliance with the applicable requirements and the formal sufficiency of the documentation presented, and clarifying that such verification will not determine the market's governing body's responsibility for the lack of veracity of the information contained in said documentation.
Article eleven modifies Royal Decree 815/2023, of November 8, which develops Law 6/2023, of March 17, on Securities Markets and Investment Services, in relation to the official registers of the National Securities Market Commission, cooperation with other authorities and the supervision of investment services firms, so that minor sanctions derived from the commission of infringements typified in letters a) and d) of article 310 of Law 6/2023, of March 17, are recorded in the CNMV's public register of sanctions. In addition, a new case for attributing consolidated supervision to the CNMV is incorporated when it individually supervises more than one investment firm within a group and the sum of their balance sheets is greater than the sum of the total balance sheets of the rest of the group's investment firms individually supervised by any other competent authority.
Likewise, a single additional provision is included with the aim of establishing a twelve-month period during which the mandate of the Director of the Executive Service of the Commission may continue to exercise their functions until the appointment of their successor from the expiration of their mandate.
On the other hand, three transitional provisions are included to ensure the proper incorporation of the modifications made to the Regulation of Law 10/2010, of April 28, on the prevention of money laundering and the financing of terrorism.
The first of these aims to establish a six-month period for both gambling operators and players themselves to undertake the necessary technical and operational adaptations to comply with the new identity verification method introduced in article 21.
The second of these establishes a transitional period of nine months for obliged entities included in sections i) to u), both inclusive, of article 2.1 of Law 10/2010, of April 28, which, including agents, employ fewer than 10 people and whose annual turnover or annual balance sheet does not exceed 2 million euros, to communicate the appointment of their representative to the Executive Service of the Commission.
The third of these includes the eighteen-month transitional regime for the use of electronic identification means.
Finally, the first final provision, referring to the jurisdictional title, establishes that articles 1 and 2 of the royal decree are based on the exclusive competence of the State, in accordance with article 149.1.14.ª of the CE, while articles 3 to 11 maintain the same jurisdictional bases as the norms they modify. Likewise, the single additional provision and transitional provisions 1.ª and 2.ª are covered by article 149.1.6.ª, 11.ª and 13.ª. The second final provision explicitly states the partial incorporation of Directive 2024/1640 of the European Parliament and of the Council, of May 31, 2024. Similarly, the third final provision includes the authorization for the Minister of Economy, Trade and Business to issue, by ministerial order, the availability and technological means necessary for the execution of the modifications made by article five, paragraphs three and six, in articles 6.1.a) and 28 of the Regulation of Law 10/2010, of April 28, on the prevention of money laundering and the financing of terrorism. For its part, the fourth final provision covers the entry into force of the norm. III This royal decree responds to the principles of necessity, effectiveness, proportionality, legal certainty, transparency, and efficiency. This royal decree responds to the principle of necessity insofar as it introduces essential modifications to guarantee the correct application and updating of the financial regulatory framework, adapting it to the changes made in the OFFICIAL STATE GAZETTE No. 250 Thursday, October 8, 2026 Sec. I. Page 133743 cve: BOE-A-2026-20915 Verifiable at https://www.boe.es European Union regulations and to the practical needs detected by supervisory authorities. The reforms included introduce technical adjustments aimed at facilitating the operations of credit institutions, investment services firms, as well as the regime of the Deposit Guarantee Fund, avoiding regulatory gaps or divergent interpretive criteria. The principle of effectiveness is fully satisfied, since the incorporated modifications allow the objectives pursued by the royal decree to be achieved through concrete, specific, and directly applicable regulatory adjustments. By updating procedures, redefining information thresholds, and clarifying supervisory powers, regulatory coherence is improved, and it is ensured that the regulatory framework can operate effectively, strengthening both supervision and user protection. This royal decree complies with the principle of proportionality by limiting itself to introducing the strictly necessary modifications to guarantee the adequacy of the legal system to European requirements and supervisory practice, without imposing additional unjustified burdens. The reforms focus on specific technical adjustments – such as the modification of thresholds, the precision of documentary obligations, or the adaptation of calendars – without creating new regulatory regimes or increasing requirements for obliged entities beyond what
is essential. The principle of legal certainty is reinforced by clarifying dispersed precepts in different royal decrees that regulate essential areas of the financial system, as well as by harmonizing these with the provisions of recently approved European regulations. In relation to the principle of transparency, in the drafting procedure of this royal decree, the provisions of Law 50/1997, of November 27, on the Government, and Law 39/2015, of October 1, on the Common Administrative Procedure of Public Administrations, have been taken into account. The prior public consultation process has been carried out for the regulatory modifications of article five of this royal decree, but this process has been dispensed with for the other articles in accordance with the provisions of article 26.2 of Law 50/1997, of November 27, as these do not impose new relevant obligations on the recipients and are limited to regulating partial aspects of a matter, due to their strictly technical nature and their limited economic and regulatory impact. However, the public hearing process provided for in article 26.6 of Law 50/1997, of November 27, has been carried out, thus enabling the participation of potential recipients, ensuring compliance with the principle of transparency. In this regard, it is necessary to highlight the broad participation of the affected sectors, whose observations have been valued, and where appropriate, incorporated into the regulatory text. Likewise, reports have been collected from the Commission for the Prevention of Money Laundering and Monetary Infractions, within which, reports have been collected from regional police forces with competence in the matter, the Council of Consumers and Users, the General Council of the Judiciary, the Fiscal Council, the State Council of Non-Governmental Organizations for Social Action, as well as from the Ministries of Culture; Equality; Territorial Policy and Democratic Memory; Social Rights; Consumption and Agenda 2030; Inclusion, Social Security and Migrations; Interior, Treasury; Foreign Affairs, European Union and Cooperation; and Presidency, Justice and Relations with the Cortes. Likewise, the principle of efficiency is complied with because this royal decree does not impose unnecessary or accessory administrative burdens. Articles one and two of this royal decree are issued under the provisions of article 149.1.14.ª of the Spanish Constitution, which attributes to the State the exclusive competence over general Treasury and State Debt. Articles three to eleven are covered by the same jurisdictional titles invoked in the norms subject to modification. OFFICIAL STATE GAZETTE No. 250 Thursday, October 8, 2026 Sec. I. Page 133744 cve: BOE-A-2026-20915 Verifiable at https://www.boe.es The single additional provision and the second transitional provision are issued under paragraphs 11.ª and 13.ª of article 149.1 of the Constitution, insofar as they attribute to the State competences over the bases of
credit regulation and the bases and coordination of general economic activity planning. The first transitional provision is covered by paragraphs 6.ª, 11.ª and 13.ª of article 149.1, insofar as they attribute to the State competences over commercial legislation, bases of credit, banking and insurance regulation and the bases and coordination of general economic activity planning. By virtue thereof, at the proposal of the First Vice-President of the Government and Minister of Economy, Trade and Business, with the prior approval of the Minister for Digital Transformation and Public Function, in agreement with the Council of State, and after deliberation by the Council of Ministers at its meeting on October 6, 2026, I HEREBY ORDER:
Article one. Modification of Royal Decree 640/1987, of May 8, on payments issued “to be justified”.
Article 6 of Royal Decree 640/1987, of May 8, on payments issued “to be justified”, is redrafted as follows:
“Article 6. Disposition of funds.
The disposition of funds from the accounts referred to in article 5 of this royal decree shall be made by means of nominative checks or bank transfers, authorized with the joint signatures of the paying cashier and the official designated by the Head of the administrative Unit to which the paying Cashier's Office is attached or their substitutes. These dispositions of funds may also be made, exceptionally and when their necessity is duly justified by the ordinary means of disposition of funds not being applicable, by bank card, under the terms that are established by joint ministerial order of the Ministries with competence in matters of Treasury and Economy. In those public bodies that use payment systems similar to those of payments issued “to be justified”, credit cards may also be used as a means of payment, adjusting their use to the same requirements established by current regulations.”
Article two. Modification of Royal Decree 725/1989, of June 16, on fixed cash advances.
A new paragraph 3 is added to article 6 of Royal Decree 725/1989, of June 16, on fixed cash advances, with the following wording:
“3. The disposition of funds may also be made, exceptionally and when its necessity is duly justified by the ordinary means of disposition of funds not being applicable, by bank card, under the terms that are established by joint ministerial order of the Ministries with competence in matters of Treasury and Economy.
In those public bodies that use payment systems similar to those of fixed cash advances, credit cards may also be used as a means of payment, adjusting their use to the same requirements established by current regulations.”
Article three. Modification of Royal Decree 2606/1996, of December 20, on deposit guarantee funds for credit institutions.
Letter b) of paragraph 2 of article 3 of Royal Decree 2606/1996, of December 20, on deposit guarantee funds for credit institutions, is redrafted as follows:
“b) In the case of contributions to the securities guarantee compartment, the quoted value of the guaranteed securities, as defined in article 4.2. When among the latter there are securities and financial instruments not traded on a secondary market, Spanish or foreign, their calculation basis will be given by their nominal value or by their redemption value, whichever is more appropriate for the type of security or financial instrument in question, unless another more significant value has been declared or recorded for the purposes of its deposit or registration.”
Article four. Modification of Royal Decree 1362/2007, of October 19, which develops Law 24/1988, of July 28, on the Securities Market, in relation to transparency requirements regarding information on issuers whose securities are admitted to trading on an official secondary market or another regulated market of the European Union.
Royal Decree 1362/2007, of October 19, which develops Law 24/1988, of July 28, on the Securities Market, in relation to transparency requirements regarding information on issuers whose securities are admitted to trading on an official secondary market or another regulated market of the European Union, is modified as follows:
One. Paragraph 2 of article 25 is left without content.
Two. Paragraph 6 of article 30 is redrafted as follows:
“6. In the case of a public takeover bid for shares, shareholders of the affected company who acquire securities that grant voting rights must notify the National Securities Market Commission of said acquisition when the proportion of voting rights in their possession reaches or exceeds 3%. Likewise, these shareholders or shareholders of the affected company who already held 3% of the voting rights, shall notify any operation that implies a subsequent variation in said percentage. The content of the communications provided for in this paragraph shall comply with the provisions of article 34. The National Securities Market Commission shall disseminate said information immediately. The obligations of the preceding paragraph shall apply from the announcement of the public takeover bid for shares until its settlement or withdrawal.” Three. Article 31 is left without content. Four. Paragraphs 3 and 9 of article 35 are left without content. Five. Paragraph 2 of article 36 is left without content. Six. Paragraph 1 of article 40 is redrafted as follows:
“1. The issuer of shares admitted to trading on an official secondary market or another regulated market domiciled in the European Union, for which Spain is the home Member State, shall communicate to the CNMV the proportion of voting rights remaining in its possession, in accordance with the provisions of the following article, when it acquires or transfers its own shares that grant voting rights, in a single act or by successive acts, either by itself, through a controlled entity or through an interposed person, and its participation reaches, or crosses, above or below, the thresholds of 3%, 5% or 10% of the voting rights. The issuer shall have a maximum period of four trading days from said acquisition or transfer to make the communication.” Seven. Letter c) of article 41 is left without content. Eight. Article 47 is left without content. Nine. The first additional provision is left without content.
Article five. Modification of the Regulation of Law 10/2010, of April 28, on the prevention of money laundering and the financing of terrorism, approved by Royal Decree 304/2014, of May 5.
The Regulation of Law 10/2010, of April 28, on the prevention of money laundering and the financing of terrorism, approved by Royal Decree 304/2014, of May 5, is modified as follows:
One. Paragraph 2 of article 3 is suppressed.
Two. Paragraph 1 of article 4 is redrafted in the following terms:
“Article 4. Formal identification.
Six. Paragraph 1 of Article 28 is modified as follows:
"1. Obligated entities shall retain all documentation obtained or generated in application of due diligence measures, including, in particular, copies of reliable identification documents, including information obtained through electronic identification means, client declarations, documentation and information provided by the client or obtained from reliable independent sources, contractual documentation, and the results of any analysis carried out, for a period of ten years from the termination of the business relationship or the execution of the occasional transaction." Seven. Paragraph 1 of Article 31 is modified as follows:
"1. Obligated entities shall approve in writing and apply adequate policies and procedures for the prevention of money laundering, terrorist financing, and the application of international financial sanctions and countermeasures.
Insurance brokers and obligated entities included in paragraphs (i) to (u), both inclusive, of Article 2.1 of Law 10/2010, of April 28, who, including agents, employ fewer than 10 people and whose annual turnover or annual balance sheet does not exceed 2 million euros, are exempt from the obligations referred to in this article and in Articles 32, 33, 38, and 39. These exceptions shall not apply to obligated entities integrated into a business group that exceeds these figures, nor to obligated entities included in Article 2.1(n), who shall apply money laundering and terrorist financing prevention policies and procedures as established by their centralized prevention bodies." Eight. Paragraph 1 of Article 32 is modified as follows:
"1. Internal control procedures shall be based on a prior risk analysis that must be prepared taking into account, at a minimum, the national risk analysis, the supranational risk analysis of the European Union, relevant sectoral risk analyses prepared by the competent authorities, as well as information on the risks of money laundering, terrorist financing, and non-application and evasion of international financial sanctions and countermeasures provided by the competent authorities. This analysis must be documented by the obligated entity. The analysis shall identify and evaluate the risks of the obligated entity by types of clients, countries or geographical areas, products, services, operations, and distribution channels, taking into consideration variables such as the purpose of the business relationship, the client's asset level, the volume of operations, and the regularity or duration of the business relationship." Nine. Letter (o) is added to paragraph 1 of Article 33 with the following wording:
"o) A structured procedure for the application of international financial sanctions and countermeasures."
Ten. Paragraph 1 of Article 35 is drafted as follows:
"1. Obligated entities shall designate a representative before the Executive Service of the Commission, who shall be responsible for compliance with the reporting obligations established in Law 10/2010, of April 28. The representative may also designate up to two authorized persons who shall act under the direction and responsibility of the representative before the Executive Service of the Commission. In the case of obligated entities that form a business group, the representative may designate up to a maximum of three authorized persons. The proposal for the appointment of the representative and, where applicable, of the authorized persons, shall be made by means of a responsible declaration signed by the obligated entity, in which it is expressly declared that the designated person meets each of the requirements demanded by Law 10/2010, of April 28, and by this Regulation for the exercise of their position. The proposal for the appointment of authorized persons must also be made by means of a responsible declaration addressed to the Executive Service of the Commission signed by the representative. For the purposes of Article 25 of Law 10/2010, of April 28, obligated entities must retain the documentation proving compliance with the details contained in the responsible declarations, at the disposal of the Executive Service of the Commission for its examination and verification when required. Obligated entities shall keep the appointment data of the representative and of the authorized persons initially communicated to the Executive Service of the Commission updated. Appointments, terminations, and the updating of initially communicated data shall be carried out, as appropriate, by the obligated entities or by their representatives, through the corresponding procedures and forms made available by the Executive Service of the Commission on its internet portal." Eleven. Article 42 is drafted in the following terms:
"Article 42. Foundations and associations.
The condition of being a member of the Financial Intelligence Committee does not require the prior condition of being a member of the Plenary of the Commission. Representatives designated by the different institutions or their alternates must have a rank of at least Deputy Director General or equivalent."
Seventeen. A new Article 66 bis is introduced in the following terms:
"Article 66 bis. Statistics.
Article six. Modification of Royal Decree 84/2015, of February 13, developing Law 10/2014, of June 26, on the regulation, supervision and solvency of credit institutions.
Paragraph 1 of Article 84 of Royal Decree 84/2015, of February 13, developing Law 10/2014, of June 26, on the regulation, supervision and solvency of credit institutions, is amended as follows:
“1. In accordance with the provisions of Articles 61 and 62.1.e) of Law 10/2014, of June 26, in the exercise of collaboration with supervisory authorities of other countries, the Bank of Spain will provide all relevant information requested by such authorities and, in any case, ex officio, that information that may significantly influence the assessment of the financial solidity of a credit institution or a financial entity from another State.
In particular, the information referred to in the first paragraph will include:
a) The legal structure and governance structure of a consolidable group of credit institutions, including the organizational structure, in relation to all regulated and unregulated entities, unregulated subsidiaries and significant branches belonging to the group, and parent companies, in accordance with the obligations regarding close links and corporate governance procedures that entities must comply with on an individual, consolidated or sub-consolidated basis. a bis) The competent authorities of the regulated entities of the group; b) Procedures for collecting information from entities in a group and verifying it. c) Adverse developments in entities or other companies in a group that could seriously affect credit institutions. d) Sanctions for serious or very serious infringements and exceptional measures adopted by the Bank of Spain, including the imposition of a specific own funds requirement in accordance with Article 68.2.a) of Law 10/2014, of June 26, and the imposition of any limitation on the use of the advanced measurement method for calculating own funds requirements in accordance with Article 312.2 of Regulation (EU) No 575/2013, of June 26.”
Article seven. Modification of Royal Decree 1012/2015, of November 6, developing Law 11/2015, of June 18, on the recovery and resolution of credit institutions and investment service companies, and modifying Royal Decree 2606/1996, of December 20, on deposit guarantee funds of credit institutions.
Royal Decree 1012/2015, of November 6, developing Law 11/2015, of June 18, on the recovery and resolution of credit institutions and investment service companies, and modifying Royal Decree 2606/1996, of December 20, on deposit guarantee funds of credit institutions, is amended as follows:
One. Paragraph 1 of Article 49 is drafted as follows:
“1. The FROB will determine annually, in accordance with the provisions of Delegated Regulation 2015/63 (EU) of the Commission, of October 21, 2014, supplementing Directive 2014/59/EU of the European Parliament and of the Council, or any other subsequent Regulations that may be issued in substitution for this, with regard to ex-ante contributions to resolution financing mechanisms, the total contribution that the set of obligated entities must make to the National Resolution Fund and the ordinary contributions that each of the entities must pay during that year, taking into account the information available and that which it may require from the entities for these purposes.”
Two. Paragraph 1 of Article 79 is drafted as follows:
“1. Resolution entities will comply with the requirements established in Articles 70 to 78 on a consolidated basis at the level of the resolution group.
Entities exempt in accordance with Article 44 quater of Law 11/2015, of June 18, from the obligation to comply with the minimum requirement for own funds and eligible liabilities provided for in Article 44.1 of said law, will not be part of the consolidation at the level of the resolution group provided for in the previous paragraph.”
Article eight. Modification of Royal Decree 164/2019, of March 22, establishing a free regime for basic payment accounts for the benefit of persons in a situation of vulnerability or at risk of financial exclusion.
Paragraph 2 of Article 4 of Royal Decree 164/2019, of March 22, establishing a free regime for basic payment accounts for the benefit of persons in a situation of vulnerability or at risk of financial exclusion, is amended as follows:
“2. When the documentation referred to in paragraph 1 is not available, the client must provide a report indicating the composition of the household or justifying the suitability for access to the free basic payment account, as appropriate. This report will be issued by the local social services where the client is registered or has effective residence. In the case of being a victim of trafficking or sexual exploitation, it may be accredited through the unified accreditation model issued by social services or a specialized entity in the matter.
Exceptionally, non-profit entities that are part of the National System for the Reception and Integration of Persons Applying for and Benefiting from International Protection and Entities of the Third Sector of Social Action may provide information on the situation of risk of financial exclusion, including information on the applicant's income or assets, with the aim of facilitating the client's access to a free basic payment account.
These entities must present to the credit institution a responsible declaration indicating that they have obtained recognition of the status of Third Sector of Social Action entity from the General State Administration or that they are duly registered in the State Register of Third Sector of Social Action Entities regulated by Law 43/2015, of October 9, on the Third Sector of Social Action, or that they have a valid authorization to provide services through concerted action of the International Protection Reception System or the Humanitarian Attention Program, and that they comply with all legal requirements applicable, or that they are Collaborating Third Sector of Social Action Entities with the General State Administration in accordance with the provisions of the recent Royal Decree 592/2026, of July 15, regulating the legal regime of Third Sector of Social Action Entities collaborating with the General State Administration.
Credit institutions must accept the responsible declaration unless there are reasonable indications of falsity and must take into account the information provided by non-profit entities and Third Sector of Social Action Entities referred to in this paragraph when accepting or denying an application for the opening of a free basic payment account.”
Article nine. Modification of Royal Decree 813/2023, of November 8, on the legal regime of investment service companies and other entities providing investment services.
Royal Decree 813/2023, of November 8, on the legal regime of investment service companies and other entities providing investment services, is amended as follows:
One. The last paragraph of paragraph 3 of Article 42 is left without content.
Two. Final Provision Third is drafted with the following content:
“Final Provision Third. Regulatory authorizations.
The person holding the position of Minister of Economy, Commerce and Enterprise and, with their express authorization, the CNMV, in cases where they are not expressly assigned this competence in this royal decree, may issue whatever provisions they consider necessary for the proper execution of this royal decree.
Within the framework of the provisions of Articles 52 and 53 of this royal decree, the CNMV is authorized to specify and develop the requirements of the corporate governance system based on the size of the entity, the complexity in managing its risks, and the nature of the investment services provided by investment service companies, as well as to detail the tasks to be developed by the risk management, compliance, and internal audit functions.”
Article ten. Modification of Royal Decree 814/2023, of November 8, on financial instruments, admission to trading, registration of negotiable securities, and market infrastructures.
Royal Decree 814/2023, of November 8, on financial instruments, admission to trading, registration of negotiable securities, and market infrastructures, is amended as follows:
One. A new paragraph 4 is added to Article 34, with the following content:
“4. A central securities depository may maintain an account in which the global balance of securities of an issue for which it has been assigned accounting registration is noted, and which, at any given time, has been deposited in a central securities depository located outside the European Union. This account will not confer title of legitimacy over the balances noted in it and will be maintained solely for the purpose of controlling the integrity of the issue, as provided for in Article 37 of Regulation No 909/2014, of July 23, 2014, and Articles 8.1 and 15.3 of Law 6/2023, of March 17.”
Two. A new paragraph 5 is added to Article 63, with the following content:
“5. The verification provided for in Article 63.1.b) of Law 6/2023, of March 17, in relation to the admission to trading of non-participatory securities in regulated markets, will be understood to be limited to checking compliance with the applicable requirements and the formal sufficiency of the documentation presented, and in no case will it determine the liability of said governing body for the lack of truthfulness of the information contained therein.”
Article eleven. Modification of Royal Decree 815/2023, of November 8, developing Law 6/2023, of March 17, on Securities Markets and Investment Services, in relation to the official registers of the National Securities Market Commission, cooperation with other authorities, and supervision of investment service companies.
Royal Decree 815/2023, of November 8, developing Law 6/2023, of March 17, on Securities Markets and Investment Services, in relation to the official registers of the National Securities Market Commission, cooperation with other authorities, and supervision of investment service companies, is amended as follows:
One. Letter j) of Article 2 is drafted as follows:
“j) A register in which, in accordance with the provisions of Article 334 of Law 6/2023, of March 17, sanctions imposed in the last five years for the commission of serious, very serious infringements, and those classified under letters a) and d) of Article 310 of said law, against natural and legal persons subject to the scope of supervision, inspection, and sanction provided for in Title IX of said law, will be recorded.”
Two. A new paragraph is added at the end of paragraph 1 of Article 19 with the following content:
“As an exception to the provisions of paragraph e), when the CNMV supervises more than one investment company on an individual basis within a group, consolidated supervision will correspond to it when the sum of the total balances of the companies supervised by the CNMV is greater than the sum of the total balances of the investment companies in the group supervised on an individual basis by any other competent authority.”
Additional Provision Only. Mandate of the Director of the Executive Service of the Commission.
The limitation of the mandate of the Director of the Executive Service of the Commission introduced in paragraph 7 of Article 67 of the Regulation of Law 10/2010, of April 28, on the prevention of money laundering and the financing of terrorism, will apply to the person exercising this function at the time of entry into force of this royal decree. However, the period during which they may continue to exercise their functions until the appointment of their successor may be twelve months from the expiration of their mandate.
Transitional Provision One. Transitional regime for identity verification in the gambling sector.
Players who were registered in a gambling operator's system prior to the entry into force of the obligation to verify the match between the holder of the gambling account and the payment method used in it, provided for in Article 21.2 of the Regulation of Law 10/2010, of April 28, on the prevention of money laundering and the financing of terrorism, approved by Royal Decree 304/2014, of May 5, in the wording given by paragraph five of Article five of this law, will have a period of six months counted from the entry into force to make the appropriate changes to allow this verification. During this period, they may continue to deposit funds with the payment methods they had established, as well as participate in the games offered by the operator, but they may not withdraw prizes they have obtained.
After the six-month transitional period has passed without compliance with this obligation being verified, operators must unilaterally resolve the contract and communicate this fact to the General Directorate of Gambling Regulation. In these cases, operators will proceed to return existing balances, including prizes that had not been paid due to the application of the provisions in the previous paragraph, all without prejudice to the obligations resulting from the application of money laundering and financing of terrorism regulations.
Gambling operators will have the same six-month transitional period to make the adaptations required by their technical gambling systems.
Transitional Provision Two. Adaptation period for the designation of a representative before the Executive Service of the Commission.
Obligated subjects included in paragraphs i) to u), both inclusive, of Article 2.1 of Law 10/2010, of April 28, which, including agents, employ fewer than 10 persons and whose annual turnover or annual general balance does not exceed 2 million euros, will have a period of nine months, counted from the entry into force of this royal decree, to communicate to the Executive Service of the Commission the appointment of their representative, in accordance with the provisions of Article 35 of the Regulation of Law 10/2010, of April 28, on the prevention of money laundering and the financing of terrorism.
Transitional Provision Three. Transitional regime for the use of electronic identification means.
The modifications made by Article five, paragraphs three and six, in Articles 6.1.a) and 28 of the Regulation of Law 10/2010, of April 28, on the prevention of money laundering and the financing of terrorism, will be applicable within a period of eighteen months from the publication of this royal decree in the “Boletín Oficial del Estado”.
Single Derogatory Provision. Derogation of regulations.
All provisions of equal or lower rank that oppose what is provided for in this royal decree are hereby repealed.
Final Provision One. Competential title.
Articles one and two of this royal decree are issued under the provisions of Article 149.1.14th of the Spanish Constitution, which attributes to the State exclusive competence over General Treasury and State Debt.
Articles three to eleven are supported by the same competential titles invoked in the norms subject to modification.
The Additional Provision Only and Transitional Provision Two are issued under paragraphs 11th and 13th of Article 149.1 of the Constitution, insofar as they attribute to the State competences over the bases of credit regulation and the bases and coordination of the general planning of economic activity.
Transitional Provision One is supported by paragraphs 6th, 11th, and 13th of Article 149.1, insofar as they attribute to the State competences over commercial legislation, bases of credit regulation, banking and insurance, and the bases and coordination of the general planning of economic activity.
Final Provision Two. Incorporation of European Union Law.
Directive 2024/1640 of the European Parliament and of the Council, of May 31, 2024, on the mechanisms that Member States must establish for the prevention of the use of the financial system for money laundering or terrorist financing, amending Directive (EU) 2019/1937, and amending and repealing Directive (EU) 2015/849, is partially incorporated.
Final Provision Three. Regulatory authorization.
The Minister of Economy, Commerce and Enterprise is authorized to determine, by ministerial order, the availability and technological means necessary for the execution of the modifications made by Article five, paragraphs three and six, in Articles 6.1.a) and 28 of the Regulation of Law 10/2010, of April 28, on the prevention of money laundering and the financing of terrorism.
Final Provision Four. Entry into force and applicability.
This royal decree will enter into force twenty days after its publication in the “Boletín Oficial del Estado”.
Given on October 7, 2026.
FELIPE R.
The First Vice President of the Government and Minister of Economy, Commerce and Enterprise,
CARLOS CUERPO CABALLERO
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This document amends: Royal Decree 813/2023 on the Legal Regime of Investment Service Companies and Other Entities Providing Investment Services, Royal Decree 815/2023 developing the Securities Markets and Investment Services Law regarding CNMV registers, cooperation, and supervision, Royal Decree 1012/2015 developing the Recovery and Resolution Law for Credit Institutions and Investment Firms and modifying the Deposit Guarantee Fund Regulation, Royal Decree 84/2015 of 13 February developing Law 10/2014 on the regulation, supervision and solvency of credit institutions, Royal Decree 304/2014 approving the Regulation of Law 10/2010 on the prevention of money laundering and terrorist financing
Source: Comision Nacional del Mercado de Valores — original document · Summary generated with machine assistance and reviewed before publication; the authoritative text is the regulator's original document. How RegAlert works
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