The board of the National Securities Market Commission (CNMV) has approved a broad delegation of functions linked to the markets to the presidency, the vice-presidency, the executive committee, and several general directors, as stated in the Official State Gazette (BOE) this Tuesday.
In the area of primary markets, the body has transferred various powers related to the admission of securities for trading in regulated markets, as well as those related to public offers of sale and subscription of securities, public takeover bids for securities, and securitization funds.
Regarding secondary markets, responsibilities have been delegated concerning trading suspension, supervision of relevant information, control of short selling, over-the-counter and commodity derivatives, in addition to powers concerning dialogue with the governing bodies of the stock exchanges.
Likewise, these senior officials have been assigned powers regarding the exclusion of securities from trading, the control of information in financial reporting, concerning the "sandbox," and in the preventive resolution of investment services companies.