## [Corporate Updates 4-2013](/en_GB/new/corporate-updates-4-2013) # Corporate Updates 4-2013 03 / 24 / 2013 - - [](https://www.linkedin.com/sharing/share-offsite/?url=https://www.garrigues.com/en_GB/new/corporate-updates-4-2013) - []() - []() [Download Corporate Updates 4-2013 ![Download](/sites/default/files/inline-images/flecha-abajo.png)](/sites/default/files/noticias/files/Corporate-Updates-4-2013_1.pdf) Previous Next UPDATES CORPORATE 4/2013 ROYAL DECREE-LAW 6/2013, OF MARCH 22, 2013, ON PROTECTION FOR HOLDERS OF CERTAIN SAVINGS AND INVESTMENT PRODUCTS AND OTHER FINANCIAL MEASURES **1. INTRODUCTION** Royal Decree-Law 6/2013, of March 22, 2013, on protection for holders of certain savings and investment products and other financial measures was published in the Official State Gazette on March 23 and entered into force on March 24, 2013. The essential aim of this piece of legislation, in the context of the so-called hybrid instrument (mainly preferred shares) and subordinated debt burden-sharing exercises envisaged in Law 9/2012, is twofold: (i) to monitor any claims filed by customers against financial institutions owned by the FROB (Fondo de Reestructuración Ordenada Bancaria), owing to the misselling of those complex products, and to make available in certain cases expeditious dispute settlement mechanisms, primarily through arbitration; and (ii) to provide, in exceptional cases, liquidity to the shares that the holders of those instruments will receive in exchange, considering that those shares will not trade on a regulated market, involving for that purpose the Deposit Guarantee Fund. Moreover, in the additional and final provisions of the new royal decree-law, various financial provisions have been amended to meet different goals, for instance to comply with international commitments assumed by Spain, or to adopt measures required urgently (as they relate to the credit institution restructuring or resolution processes, or due to their particular significance in the present economic climate). A number of specific legal changes have also been made, affecting the Central Credit Register and allowing Spanish insurance companies to use underwriting agencies, along with certain changes to Law 9/2012, some relating to insolvency, to allow asset management company SAREB (Sociedad de Gestión de Activos Procedentes de la Reestructuración Bancaria) to operate more effectively. **2. HYBRID CAPITAL INSTRUMENT AND SUBORDINATED DEBT MONITORING COMMITTEE** - 2.1 Creation of the committee - 2.2 Composition and operating procedures of the committee - 2.3 Duties **3. LIQUIDITY MECHANISM FOR SHAREHOLDERS OF INSTITUTIONS UNDERGOING RESTRUCTURING** - 3.1 Extension of remit of Deposit Guarantee Fund - 3.2 Contribution of funds **4. OTHER PROVISIONS OF ROYAL DECREE-LAW 6/2013** ### Contacts ![](/sites/default/files/styles/medium/public/team/photo/10011699.jpg?itok=FBe83oFx) [Javier Ybañez](/en_GB/team/javier-ybanez-rubio) ![](/themes/custom/garriguestheme/img/iconos/email-contacto.svg)[Contact]() - +34 91 514 52 00 [Madrid](https://www.garrigues.com/en_GB/office/madrid) ![Foto del socio](/sites/default/files/styles/medium/public/team/photo/Gonzalo_Garcia-Fuertes_Iglesias_en_20250711.jpg?itok=IL22D4NU) [Gonzalo García-Fuertes](/en_GB/team/gonzalo-garcia-fuertes-iglesias) ![](/themes/custom/garriguestheme/img/iconos/email-contacto.svg)[Contact]() - +34 91 514 52 00 [Madrid](https://www.garrigues.com/en_GB/office/madrid) ![](/sites/default/files/styles/medium/public/team/photo/10000114.jpg?itok=O_1npB0w) [Mónica Martín de Vidales](/en_GB/team/monica-martin-vidales-godino) ![](/themes/custom/garriguestheme/img/iconos/email-contacto.svg)[Contact]() - +34 91 514 52 00 [Madrid](https://www.garrigues.com/en_GB/office/madrid) ![Foto del socio](/sites/default/files/styles/medium/public/team/photo/Ramon_Tejada_Fernandez_20230518.jpg?itok=Y43sb4iY) [Ramón Tejada](/en_GB/team/ramon-tejada-fernandez) ![](/themes/custom/garriguestheme/img/iconos/email-contacto.svg)[Contact]() - +34 91 514 52 00 [Madrid](https://www.garrigues.com/en_GB/office/madrid) [Find more professionals](../team) ### Related services - [Corporate and M&A ](/en_GB/services/corporate-and-ma) - [Banking and Finance ](/en_GB/services/banking-and-finance) - ## Find a publication - [Administrative and Constitutional Law](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1422) - [Agribusiness and Food](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1417) - [Automotive](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1419) - [Banking and Finance](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1443) - [Corporate and M&A](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1441) - [Corporate Governance and Sustainable Development](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A12823) - [Criminal Law and Internal Investigations](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1434) - [Data Economy, Privacy and Cybersecurity](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A10913) - [Dispute Resolution: Litigation and Arbitration](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1412) - [Energy](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A10916) - [EU and Antitrust Law](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1416) - [Family Business](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1413) - [Fashion Law](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1435) - [Financial Regulation](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A10915) - [G-advisory](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A12821) - [Human Capital Services](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1431) - [Infrastructure](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A10914) - [Insurance](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1438) - [Intellectual Property](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1421) - [Labor and Employment](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1424) - [Life Sciences and Healthcare](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1429) - [Media and Entertainment](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1433) - [Planning, Zoning and Environment](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1444) - [Private Equity](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1439) - [Real Estate](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A10927) - [Restructuring and Insolvency](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1420) - [Securities Markets](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1442) - [Sports](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1430) - [Startups & Open innovation](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1426) - [Sustainability](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A10921) - [Tax](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1425) - [Technology, Communications and Digital](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1436) - [Tourism and Hotels](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1432) - [Transport, Logistics and Shipping](/en_GB/markdownify/node/4475?f%5B0%5D=service%3A1428) Facet Services detail - [Publications](/en_GB/markdownify/node/4475?f%5B0%5D=publication_type%3A794) - [Newsletters](/en_GB/markdownify/node/4475?f%5B0%5D=publication_type%3A107) - [Garrigues collection](/en_GB/markdownify/node/4475?f%5B0%5D=publication_type%3A101) - [Laws: amendments at a glance](/en_GB/markdownify/node/4475?f%5B0%5D=publication_type%3A104) - [News](/en_GB/markdownify/node/4475?f%5B0%5D=publication_type%3A105) Facet Publication type detail Min Max ## News search engine