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Changes to financial credit establishments under Law 5/2015 and regulation of crowfunding

15 May 2015

Law 5/2015, dated 27 April, for the promotion of business financing (Law 5/2015), has introduced important changes in the legal regime of financial credit establishments (FCEs) and has regulated crowdfunding for the first time in Spain.

In this context, we have prepared this e-alert in order to highlight the main aspects of the new legal regime of credit institutions and the new regulation of finance participatory platforms. Furthermore, two other e-alerts covering the new legal framework on: (i) the issuance of debt securities; and (ii) securitisation have also been prepared.