ES - Spanish circular on information to be provided by management companies
On 26 December 2018, the Official State Gazette (BOE) has published CNMV Circular 5/2018, amending previous CNMV Circulars on public periodic reporting on accounting standards, annual accounts and reserved information statements of venture capital entities, CIS and venture capital entity management companies and branches of European management companies established in Spain.
The new features of the Circular include most notably the following:
- New breakdowns of information have been added for private equity management companies (SGEIC) – the amendment of Circular 7/2008 – as well as information on the type of investor for Venture Capital Entities (amendment of Circular 11/2008).
- In order to promote the electronic processing of documents submitted to CNMV, as well as to facilitate the availability of information to the public, the requirement to submit the annual report of private equity management companies and venture capital entities as a standardised electronic document has been introduced.
The circular will enter into force on 30 June 2019