The Spanish Securities Commission (CNMV) has added a new section to its website to centralise and explain regulatory developments affecting issuers admitted to trading on multilateral trading facilities (MTFs) and their investors, alongside dedicated channels for queries on the new requirements. The section will be updated periodically as relevant changes arise, including those linked to the European Union’s 2024 Listing Act package, which is intended to ease access to capital particularly for small and medium-sized enterprises and recently established companies through simpler listing processes and reduced administrative burdens while maintaining investor protection and market integrity. The package comprises a regulation applicable directly from December 2024 and two directives due to be transposed by June 2026 and December 2026, respectively, and includes amendments to the Prospectus Regulation, the Market Abuse Regulation and MiFIR, changes to certain aspects of MiFID II, and the introduction of multiple-vote share structures for issuers seeking admission to MTFs. The CNMV also lists the MTFs currently operating in Spain, including Archax Market Europe MTF, BME MTF Equity, Mercado Alternativo de Renta Fija (MARF), Mercado de Valores Latinoamericanos (Latibex), Portfolio Stock Exchange and the Sistema Electrónico de Negociación de Activos Financieros (SENAF).

Original source View in tracker