The Spanish Securities Commission has opened a public consultation on a draft Technical Guide on internal control in the management of closed ended vehicles. The draft is aimed at management companies of private equity entities and other closed ended investment vehicles, and sets out the supervisory criteria and good practices the regulator considers appropriate for their organisational structure, internal control functions and management of conflicts of interest. By clarifying these expectations, the guide is intended in part to help streamline authorisation processes for management companies. The initiative was included in the CNMV's annual regulatory plan, and the consultation will remain open until 10 July 2026.
Spanish Securities Commission (CNMV)2026-05-29
Spanish Securities Commission launches consultation on draft internal control guide for managers of closed ended investment vehicles
The Spanish Securities Commission has launched a public consultation on a draft Technical Guide on internal control in the management of closed ended vehicles. The guide targets management companies of private equity entities and other closed ended investment vehicles, setting out supervisory criteria and good practices for organisational structures, internal control functions and conflicts of interest management, and is intended in part to streamline authorisation processes.