Legal Flash Spanish corporate governance and capital markets reform: key points for listed and non-listed companies

In this Legal Update we outline the key practical issues for foreign investors of the recent amendments to the Spanish Companies Act, the Securities Markets Act and other financial legislation, including:

> New rules for related-party transactions

> Listed companies’ right to know the identity of the “ultimate beneficial owners”

> Amendments relating to directors’ remuneration in listed companies

> Loyalty shares in listed companies

> Virtual meetings

> Changes to the rules on delisting takeover bids”