The key elements of the new Spanish Securities Markets Law
Spain Corporate Law Commentary
The new Law approved systematizes and reorganizes the Spanish securities market regulation, adapts it to the recent provisions in several European directives, particularly in the area of crypto-assets and distributed ledger technologies, and simplifies and makes certain procedures more flexible in order to increase the competitiveness of the Spanish securities market. It also introduces new provisions in the field of tender offers, investment services firms and collective investment vehicles, and regulates for the first time the SPACs.
Law 6/2023, of March 17, on Securities Markets and Investment Services was published in the Official State Gazette on March 18, 2023.
It is envisaged as the new “framework law” for the securities markets and it is envisaged that it will be implemented by three royal decrees.
In this document we detail the main changes.