CNMV (Spain)

What is CNMV?

CNMV is the regulatory authority in Spain responsible for supervising and regulating the securities markets, including brokers and other market participants. Its main objectives include ensuring transparency, fairness, and investor protection in the Spanish financial markets.

What types of brokers does CNMV regulate?

CNMV regulates various types of brokers, including securities brokers, investment firms, and other entities engaged in providing investment services in Spain. These entities must be authorized by CNMV to operate in the Spanish securities markets.

How can a broker obtain authorization from CNMV?

To operate as a broker in Spain, an entity must apply for authorization from CNMV. The specific application requirements and process may vary depending on the type of broker and the services it intends to provide. Generally, the application involves submitting detailed information about the business, its directors and key personnel, compliance policies and procedures, financial statements, and other relevant documentation. CNMV will review the application and assess the entity’s suitability for authorization.

What are the requirements for brokers regulated by CNMV?

Brokers regulated by CNMV must meet certain requirements, which may include:

• Demonstrating financial soundness and stability
• Employing qualified and suitable personnel
• Implementing effective systems and controls for risk management and compliance
• Complying with anti-money laundering (AML) and know-your-customer (KYC) regulations
• Maintaining proper books and records
• Adhering to client asset protection requirements
• Reporting obligations to CNMV