The Spanish Securities Market Commission (CNMV) finalizes the code of conduct for the large funds

Almost a year after setting up its group of experts, the Spanish National Securities Market Commission (CNMV) is looking to finalize its new code of conduct aimed at large institutional investors, mainly international funds, pension funds and insurance groups, that are increasingly powerful in the Spanish stock market, as detailed in this article published by La Informacion. The stock market regulator is aiming to launch a public consultation in May or June to collect the latest opinions before releasing the new code. According to different sources, this stewardship document is well advanced and has a "friendly" approach to the investors to whom it is directed.

Morrow Sodali was pleased to be part of the diverse group of experts that was formed specifically for this task in June 2021. The group also included members from EY, Deloitte, KPMG and PwC, as well as large proxy advisors and proxy solicitors.

Read the full article here (in Spanish).