Publications - Securities Markets
Contingency measures have been adopted by the Portuguese Council of Ministers in the event of a no-deal Brexit
As already adopted by other EU member states, on 12 September 2019 contingency measures were approved by the Portuguese Council of Ministers and should be applied to credit institutions, investment companies and management entities with head office…
It was published the first amendment to the Portuguese SIGIs’ Regime
On the 4th of September 2019, Law no. 97/2019 was published in Portugal’s Official Journal introducing the first amendment, approved under a parliament review, to the Real Estate Investment and Asset Management (SIGIs) regime,…
SIGI – New vehicle in Portugal for real estate investment
10 main features of Portuguese REITs
The reform of the Spanish Securities Market Act provides greater clarity and flexibility on market abuse
The new regulation clarifies the concepts of inside information and relevant information, gives greater flexibility to issuers as regards the dissemination of inside information and broadens the notifications of transactions carried out by their…
Project bonds made simpler in Spain
It’s now easier than ever to finance a project in Spain through a bond issue. The reforms introduced in recent years to the Capital Companies Law and the Securities Market Law, coupled with the approval of the Business Financing Law, have made…
New European regulatory framework for securitization
The following Regulations were published in the Official Journal of the European Union on December 28, 2017.
Regime for the conversion of bearer securities into registered securities – entry into force of Decree-Law no. 123/2017, of 25 September
Following the Commentary that we have made available on 10 May 2017, informing about the entry into force of Law no. 15/2017, of 3 May – which prohibits the issuance of bearer securities and foresees the creation of a transitional…
Approval of the appropriation regime applicable to commercial pledges
On 26 June, the regime applicable to the appropriation of the pledged asset under a commercial pledge agreement was approved by Decree-Law no. 75/2017, of 26 June 2017.
Prohibition on the issuance of bearer securities
Prohibition on the issuance of bearer securities – entry into force of Law no.15/2017, of 3 May, which prohibits the issuance of bearer securities and foresees the creation of a transitional regime for the conversion of the existing…
The potential impact of Brexit from a financial and regulatory standpoint
The single market in financial services has been at the core of the United Kingdom (UK) and European Union (EU) financial services industry for many years. The news that the UK will leave the EU will no doubt have an impact on the financial players…
Revised Securities Market Law Approved
On October 24, 2015 the Official State Gazette published Legislative Royal Decree 4/2015, of October 23, 2015, approving the revised Securities Market Law. The new revised wording will come into force on November 13, 2015 (20 days after its…
SOCIMI: A true Spanish REIT!
Spain launched a very particular type of REIT in 2009, the SOCIMI (“Sociedades Cotizadas de Inversión en el Mercado Inmobiliario” or “Listed Corporations for Investment in the Real Estate Market”), with a tax regime that was very different from any…