Spain: Financial Sector Assessment Program: Detailed Assessment of Implementation of the IOSCO Objectives and Principles of Securities Regulation
IMF Staff Country Reports, June 14, 2006
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- Spain: Financial Sector Assessment Program: Detailed Assessment of Implementation of the IOSCO Objectives and Principles of Securities Regulation
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Bibliographic details
- Published: June 14, 2006
- Series: IMF Staff Country Reports
- DOI: https://doi.org/10.5089/9781451812220.002
Overview
- The assessment focuses on the National Securities Market Commission (CNMV).
- It takes into account the activities of other institutions insofar as they oversee investment service providers, markets, and clearing and settlement systems, and thus affect implementation of the IOSCO Objectives and Principles of Securities Regulation.
- The assessment reviews the efficiency of the arrangements by which such institutions interact and cooperate in the performance of their regulatory, supervisory, and enforcement functions.
- The report reflects the views of the mission team on the findings in their particular areas of emphasis.
Scope and focus of the assessment
- Primary subject: CNMV oversight of investment service providers, markets, and clearing and settlement systems.
- Evaluation target: Implementation of the IOSCO Objectives and Principles of Securities Regulation.
- Institutional interactions: Efficiency of arrangements for interaction and cooperation among regulatory, supervisory, and enforcement bodies.
Key thematic elements emphasized
- Regulatory and supervisory coverage of securities markets and market participants.
- Enforcement powers and functioning of the CNMV in the context of the broader institutional framework.
- Assessment of institutional arrangements affecting market infrastructure (clearing and settlement systems).
- Consideration of mission team perspectives in areas of emphasis.
Subjects and keywords
- Subjects: Financial institutions; Financial instruments; Financial markets; Legal support in revenue administration; Revenue administration; Securities; Securities markets; Stock markets.
- Keywords: Bolsas y Mercados Españoles; CNMV enforcement power; CNMV oversight; CNMV personnel; CNMV staff; CR; Europe; fixed income; futures market; Global; investment fund; ISCR; joint-stock company; Legal support in revenue administration; management company; market operator; open-ended investment company; risk management; Securities; Securities markets; Stock markets; The CNMV.
International Monetary Fund. "Spain: Financial Sector Assessment Program: Detailed Assessment of Implementation of the IOSCO Objectives and Principles of Securities Regulation".