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Spain Broker License

Forex broker firms wishing to set up and engage in forex activity in Spain must comply with the relevant laws and meet the standards and requirements as stipulated by the financial regulatory authority.  As the financial services industry in Spain is vast and relatively complex to fully understand, it is advisable to obtain the consultancy services of a professional consultancy firm that is experienced in all areas of Spain broker licensing and financial services in Spain.

For information on how DeltaQuest can provide comprehensive consultancy on all areas of Spain Broker licensing, Contact DeltaQuest.

Spain Broker Firms and the CNMV

The regulatory body for the financial services industry in Spain is known as the Comision Nacional del Mercado de Valores, also referred to as CNMV. This financial regulator is an independent government agency set up for the principle focus of regulating all financial securities in Spain. The CNMV falls under the remit of the Ministry of Economy and Finance of Spain.

Established in 1988, the CNMV is one of the oldest financial regulators. It was established after Law 24/1988 was passed – this law was also known as the Stock Market Act. The Securities Market Law (Law 37/1998) updated the previous law and helped establish a stronger regulatory framework.

As Spain is a member of the European Union, the financial regulatory framework as adopted by the CNMV must be in compliance with EU standards. In general the purpose of the CNMV is to ensure stability and transparency is achieved in Spain financial services markets.

The main areas of responsibility of the CNMV is as follows;

- supervise companies issuing securities on primary markets

- supervise companies operating in secondary securities markets

- supervise companies engaged in investment services

Applications for a Spain forex license are made to the CNMV. On approval of the application form the CNMV will issue the Spain forex license, enabling the company to begin trading,

Obtaining a Spain Broker License

The application for a Spain broker license includes the official application form and several other important documents to be sent to the CNMV. The additional documents will typically be; the company Memorandum and Articles of Association, documentation of the internal and external operations of the company, fit and proper test results and a company business plan. In addition you must have a company formed in Spain for the purpose of engaging in forex activity.

DeltaQuest professional consultants are highly experienced in all areas of Spain financial services and can assist you in obtaining a Spain broker license. Furthermore, we can guide you on how best to operate your Spain forex broker firm and how to comply with the relevant laws and regulations.

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