Team

Legal briefing

The BOE publishes the new CNMV circular on the new models for notification of significant shareholdings, issuer transactions in own shares, and market makers

10/06/2022

We analyse the main amendments included in the Circular 2/2022, dated 26 May, of the National Securities Market Commission.

On Wednesday 8 June 2022, the Official State Gazette (BOE) published Circular 2/2022, dated 26 May, of the National Securities Market Commission (Comisión Nacional del Mercado de Valores), which approves the models for notification of significant shareholdings, issuer transactions in own shares and market makers (the “Circular”).

The Circular repeals Circular 8/2015, of 22 December 2015, of the National Securities Market Commission, which approved the models for notification of significant shareholdings, for directors and executives and their close links, for issuer transactions in own shares, and other models (the “Circular 8/2015”), and adapts the models regulated by this Circular to the latest regulatory amendments on the subject.

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