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Clifford Chance

Clifford Chance
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The New Spanish Securities Markets and Investment Services Act: Main Novelties for Spanish Fixed-Income Primary Markets

20 March 2023

The Spanish Securities Markets and Investment Services Act introduces changes to the listing process for non-equity securities and a new legal regime for the representation or registration of negotiable securities by means of distributed ledger technology (DLT) systems.  This law has the potential to, amongst others, simplify the pre-listing process, reduce listing fees, and bring advances in digitalisation.

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