8Legislation on foreign investment and exchange controls

8.4 Statement of transactions and balances in transferable securities

Bank of Spain Circular 3/2013 establishes the obligation to submit to the Statistics Department of the Bank of Spain, on a monthly basis, statements of transactions and balances in marketable securities relating to, inter alia, transactions and balances on behalf of non-resident customers (end-investors, depository institutions, central depositories or international clearing and settlement systems).

The entities that must comply with this obligation are the following:

1. Credit institutions and branches in Spain of credit institutions registered in the official registers of the Bank of Spain which act as depositories or liquidators on regulated markets for negotiable securities, and the Bank of Spain.
2. Resident financial institutions registered in the official registers of the National Securities Market Commission that act as depositories or liquidators in regulated markets for negotiable securities.
3. Financial institutions registered in the official registers of the National Securities Market Commission acting as investment fund management companies, in respect of shares in Spanish investment funds.