The Spanish Securities Commission has opened a simplification mailbox to collect proposals on circulars, guidance and supervisory practices that may create unnecessary burdens or go beyond legal requirements, as well as comments on measures already implemented. The channel is one of 31 initiatives in the supervisory simplification plan presented in December 2025, which is intended to improve the efficiency of the regulatory and supervisory framework, reduce administrative burdens and strengthen proportionality in supervision. A first-half 2026 review shows that 58 percent of the plan has been implemented, with 19 percent in progress and 23 percent still dependent on regulatory changes. Progress has focused on faster procedures, lower documentation requirements and better information management. Measures cited include a significant reduction in documentation requested from the central securities depository, a cut in conduct rules reporting from quarterly to semiannual, the removal or simplification of recurring reports such as inspection follow-up reports, and an extension from two to four years for updating recovery plans of investment firms. The review also notes some improvement in processing times in specific cases, including registration of sustainability annexes to collective investment institution prospectuses through a self-declaration process, although it says the time elapsed since implementation is too short to draw representative conclusions. The review also identifies practical challenges. In some cases, the proposed simplification measures did not work and previous procedures were retained, while in others firms continued submitting information that was no longer required. The Commission indicates that some initiatives still hinge on regulatory changes and that more time is needed to fully assess the effect on processing times.
Spanish Securities Commission (CNMV)2026-07-01
Spanish Securities Commission launches simplification mailbox as 58 percent of supervisory simplification plan is implemented
The Spanish Securities Commission has opened a simplification mailbox for suggestions on circulars, guidance and supervisory practices that may impose unnecessary burdens or exceed regulatory requirements. The channel is part of its 31-point supervisory simplification plan, with 58 percent implemented, 19 percent in progress and 23 percent awaiting regulatory changes. Implemented steps include lighter documentation requests, less frequent conduct reporting and longer recovery plan update cycles for investment firms.