Financial Regulation and Collective Investment Schemes (CISs)

Independence:

“To go wrong in one’s own way is better than to go right in someone else’s”. Fyodor Dostoevsky

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In the coming years the financial sector faces major challenges ranging from the imminent digital transformation to the necessary drive to cut costs in order to be more efficient, profitable and financially sound in an increasingly global, competitive and regulated world.

Ramón y Cajal provides its clients with comprehensive legal advice through all stages of the process for incorporating regulated entities and creating investment services and instruments,  from their initial design and strategic planning until the regulated activities commence.

We have specialists in the financial regulation of securities markets, as well as in banking standards and codes of conduct and anti-money laundering regulations. In the regulatory and corporate area, we advise financial institutions and entities subject to the supervision of the Spanish Securities Market Commission (issuers, listed companies and investment firms), as well as entities subject to the supervision of the Bank of Spain, the SEPBLAC (Spanish Anti-Money Laundering Supervisory Authority) and the Spanish Directorate-General for Insurance and Pension Funds, regarding a wide range of matters, including the following:

  • Authorisation and incorporation or establishment in Spain of regulated entities (credit institutions, investment firms, collective investment schemes, etc.), as well as the procedures for changing or expanding their authorised activities and the delegation of functions of any kind.
  • Acquisition of, purchase of shareholdings in and merger of regulated entities.
  • Restructuring, spin-off, conversion and dissolution and liquidation of regulated entities, as well as advice regarding corporate governance and legal compliance.
  • Advice in supervisory and inspection-related matters.
  • Handling of infringement proceedings or disciplinary action against entities and directors and senior officers.

At Ramón y Cajal we provide corporate and regulatory advice to SICAVs and other collective investment schemes, such as standard or non-standard CISs, closed-ended CISs, venture capital firms, hedge funds (IIC de inversión libre) or real estate CISs, as well as their management companies.

We have more than 20 years of experience providing services to large financial groups in the area of CISs and in the secretaryship and corporate housekeeping of over 500 SICAVs. We are in constant contact at all levels with the Spanish Securities Market Commission (CNMV), the Spanish Alternative Securities Market (MAB), Iberclear (the Spanish Central Securities Depository) and the Commercial Registry, and where necessary hold meetings with their representatives.  

“Experienced, technically knowledgeable and available. Demonstrates a broad knowledge of the activity, professionalism, accessibility and a vocation for customer service”. Legal 500, 2021

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