Draft changes in Spanish companies and securities legislation and other financial regulations

On 27 May the Spanish Ministry for the Economy and Enterprise (Ministerio de Economía y Empresa) published a draft law amending the Spanish Companies Act (Ley de Sociedades de Capital, LSC), the Spanish Securities Market Act (Ley del Mercado de Valores, LMV) and other financial regulations. This is to adapt to the EU Directive as regards the encouragement of long-term shareholder engagement (Directive (EU) 2017/828), the deadline for transposition of which is 10 June 2019. 

The draft bill is in the public hearing phase until 14 June 2019, so there is still a long way to go before its approval.

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