Spain Money and Banking: Banking Laws
Credit Institutions Law
(Ley de Instituciones de Crédito)
Date Enacted: 1988
Individuals and Organizations Regulated: Credit institutions such as banks and savings banks.
Activities Regulated: This law regulates the authorization, operation, supervision, and intervention of credit institutions in Spain.
Purpose of the Law: The main purpose of this law is to ensure the stability and solvency of credit institutions and to protect depositors and investors.
Securities Market Law
(Ley del Mercado de Valores)
Date Enacted: 1988
Individuals and Organizations Regulated: Securities market participants such as investment firms, investment funds, and securities exchanges.
Activities Regulated: This law regulates the issuance, offer, negotiation, and trading of securities in Spain.
Purpose of the Law: The purpose of this law is to protect investors, ensure transparency and fairness in the securities market, and promote the development of the securities industry in Spain.
Payment Services Law
(Ley de Servicios de Pago)
Date Enacted: 2009
Individuals and Organizations Regulated: Payment service providers such as banks, electronic money institutions, and payment institutions.
Activities Regulated: This law regulates the provision of payment services in Spain, including payment initiation services and account information services.
Purpose of the Law: The purpose of this law is to ensure the security and efficiency of payment services, promote competition in the payment services market, and protect consumers.
Prevention of Money Laundering and Terrorism Financing Law
(Ley de Prevención del Blanqueo de Capitales y de la Financiación del Terrorismo)
Date Enacted: 2010
Individuals and Organizations Regulated: Financial institutions such as banks, insurance companies, and investment firms.
Activities Regulated: This law regulates the prevention and detection of money laundering and terrorism financing activities in Spain.
Purpose of the Law: The purpose of this law is to protect the integrity and stability of the financial system, prevent criminal activities such as money laundering and terrorism financing, and promote international cooperation in combating these activities.
Consumer Credit Law
(Ley de Crédito al Consumo)
Date Enacted: 1995
Individuals and Organizations Regulated: Financial institutions that provide consumer credit such as banks, credit unions, and consumer finance companies.
Activities Regulated: This law regulates the provision of consumer credit in Spain, including the disclosure of credit terms and the protection of consumer rights.
Purpose of the Law: The purpose of this law is to protect consumers from abusive and unfair practices in the consumer credit market, promote responsible lending, and ensure the transparency and fairness of credit agreements.
Investment Services Law
(Ley de Servicios de Inversión)
Date Enacted: 2007
Individuals and Organizations Regulated: Investment firms and other entities that provide investment services such as portfolio management and investment advice.
Activities Regulated: This law regulates the provision of investment services in Spain, including the conduct of investment firms and the protection of investor rights.
Purpose of the Law: The purpose of this law is to protect investors, ensure the integrity and efficiency of the investment services market, and promote competition among investment firms.
Mortgage Market Law
(Ley del Mercado Hipotecario)
Date Enacted: 1981
Individuals and Organizations Regulated: Financial institutions that provide mortgage loans such as banks and savings banks.
Activities Regulated: This law regulates the provision of mortgage loans in Spain, including the terms and conditions of mortgage contracts and the protection of borrower rights.
Purpose of the Law: The purpose of this law is to ensure the transparency and fairness of mortgage lending practices, protect borrowers from abusive and unfair practices, and promote the development of the mortgage market in Spain.
Insurance and Reinsurance Supervision Law
(Ley de Supervisión de Seguros y Fondos de Pensiones)
Date Enacted: 2015
Individuals and Organizations Regulated: Insurance and reinsurance companies operating in Spain.
Activities Regulated: This law regulates the authorization, operation, and supervision of insurance and reinsurance companies in Spain.
Purpose of the Law: The purpose of this law is to protect policyholders, ensure the solvency and stability of insurance and reinsurance companies, and promote competition in the insurance market in Spain.
Transparency Law
(Ley de Transparencia)
Date Enacted: 2013
Individuals and Organizations Regulated: Public and private entities that provide services of general interest, including financial institutions.
Activities Regulated: This law regulates the transparency and access to information of public and private entities in Spain, including financial institutions.
Purpose of the Law: The purpose of this law is to promote transparency and accountability of public and private entities, improve citizen participation in decision-making processes, and enhance the efficiency and effectiveness of public and private services.
Securities Financing Transactions Law
(Ley de Operaciones de Financiación Estructurada)
Date Enacted: 2015
Individuals and Organizations Regulated: Financial institutions that engage in securities financing transactions, including repurchase agreements and securities lending.
Activities Regulated: This law regulates the conduct of securities financing transactions in Spain, including the disclosure of risks and the protection of investor rights.
Purpose of the Law: The purpose of this law is to promote transparency and stability in the securities financing market, protect investors, and prevent systemic risks in the financial system.
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