The Spanish National Securities Market Commission (CNMV) informed on January 13, 2020 of its decision to render ineffective the criteria addressed to issuers of securities for their discretionary treasury stock transactions, published in 2013. These criteria consisted of a number of recommendations on trading conditions and transparency when carrying out discretionary treasury stock transactions (not performed within buy-back programs or under liquidity contracts).
On December 27, 2019 the Official Galicia Gazette published Law 7/2019, of December 23, 2019, on tax and administrative measures for the autonomous community of Galicia, introducing measures related to devolved taxes and coming into force on January 1, 2020.
On December 27 the council of ministers approved Royal Decree-Law 18/2019 (published in the Official State Gazette on December 28 and in force a day later) adopting tax and cadastral measures along the same lines as in previous years.
On November 11, 2019 the Official State Gazette published Royal Decree-law 15/2019, of November 8, 2019, adopting urgent measures for the organization in Spain of the 25th United Nationals Climate Change summit.
Supreme Court (Judicial Review Chamber) concludes that termination by unilateral decision of the employer of a senior management contract is exempt up to seven days’ per year with a limit of six monthly payments.