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Salvador Ruiz Bachs

Partner

Madrid

Ruiz Bachs Salvador
Salvador Ruiz Bachs

Partner

Madrid

Salvador has wide experience in the regulation and contractual matters of financial institutions, financial instrument markets, OTC, clearing and settlement systems, custody and a wide range of financial products. He advises to financial entities, particularly, banks, investment firms, fund management companies, private equity firms, insurance and pension funds, among others, licensing and products requirements, rules of conduct, capital requirements, investment rules, major holdings in financial institutions and listed companies, transparency requirements and AML. His professional practice is also focused on contractual matters about banking, investment, insurance and other financial services, particularly, banking and investment contracts, complex financial products such as derivatives, financial collateral, trading, custody and settlement matters, investment and private equity funds.

Salvador has been ranked first in Spain as “Leading Individual” in Financial Services; Regulatory in the prestigious international directory, Chambers & Partners. He is also recommended as a Leading Lawyer by Best Lawyers in the practice areas "Venture Capital" and "Banking & Finance".

News & insights

Publications: 31 MARCH 2020

Covid-19 coronavirus: NAV issues in open-ended real estate funds

The Covid-19 pandemic and resulting government lockdowns have brought intense volatility both to financial markets and the real economy, and a sharp return of challenges that confronted asset managers in the Global Financial Crisis of 2008-10. 

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Publications: 20 MARCH 2020

Covid-19 coronavirus: what should banks and other financial institutions focus on?

The Covid-19  pandemic presents an unprecedented challenge and will affect all walks of life.  The quantum of the impact is hard to determine at this stage although based on preliminary assessment and considering the dramatic steps enacted so far by governments worldwide, it is expected to be severe.

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The Spanish Supreme Court reviews its criteria on usurious interest rates for revolving credit cards

Publications: 09 MARCH 2020

The Spanish Supreme Court reviews its criteria on usurious interest rates for revolving credit cards

On 4 March 2020, the Spanish Supreme Court issued a ruling that partially reviews its previous position regarding the usurious interest rates for revolving credit cards. In particular, in judgement 149/2020, the Supreme Court set out which reference has to be taken into account to assess whether an interest rate in a revolving credit card is usurious (the Judgement). The consequence of an interest under a revolving credit being "usurious" is that it will be considered null and void and, consequently, the consumer will only have to repay the principal amount. The consumer will also be entitled to request the lender to pay back any amounts in excess of that sum, including any interest paid.

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Brexit day 1 readiness for European banks and investment firms

Publications: 15 OCTOBER 2019

Brexit day one readiness for European banks and investment firms: risk, legal and compliance changes for EU firms under EU law

We examine some of the ways in which a hard Brexit will affect the EU legal and regulatory obligations of EU financial services firms facing or using UK clients/counterparties/market infrastructure.

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Office

Madrid

Allen & Overy
Serrano 73
Madrid
28006

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Qualifications

Professional

Admitted as solicitor, Spain,  

Academic

Degree, Law, Universidad de Alcalá de Henares, 1995

Degree, Economics, Universidad de Alcalá de Henares, 1994

Published work

"Financial reform and credit squeeze", Cinco Días, 25 February 2012.

"The Volker Rule and the Management of Hedge Funds", Revista FundsPeople, January 2012.

"The centralizing agent under review", Revista FundsPeople, October 2011.

"The impact of FATCA on non-American managers", Revista FundsPeople, September 2011.

"PLC Cross-border Investment Funds Handbook 2011" (Spanish chapter).

Co-author with Emilio Díaz Ruiz of "Payments under interest rate swaps are not interests themselves", La Ley no. 7387, 23 April 2010.

"Alternative investment management: some thoughts on the proposed European Directive", Revista Española de Capital Riesgo, no. 2, 2010.

"Netting master agreements, financial collateral and set-off (Comments on the Resolution of the Provincial Audience of Barcelona dated 30 September 2008)", Revista del Derecho del Mercado de Valores, no. 4, 2009.

"En Equity Derivatives: Documenting and Understanding Equity Derivative Products", editor Edmund Parker, Globe Business Publishing Ltd., London, 2009.

Co-author with Emilio Díaz Ruiz of "MiFID implementation in Spain", Actualidad Jurídica Uría Menéndez, no.19, 2008.

"New regulations of Collective Investment Schemes", Actualidad Jurídica Uría Menéndez, no. 13, 2006.

Comments to Sections 7 to 12 and 4th Final Provision, En Comentarios a la Ley 25/2005, de 24 de noviembre, "Reguladora de las Entidades de Capital-Riesgo y sus Sociedades Gestoras", dir.Emilio Díaz Ruiz and Juan Luis Iglesias Prada, Madrid, Civitas, 2006.

Co-author with Emilio Díaz Ruiz of "Measures for boosting productivity: relevant changes and some legal loopholes", La Ley, no. 6240, 27 April 2005.

"Main aspects of the reform of the regulatory framework applicable to collective investment schemes", Actualidad Jurídica Uría & Menéndez, no. 7, 2004.

"Liability vis-à-vis investors for non-using private, confidential or inside information", La Ley, no. 5991, 6 April 2004.

Co-author with Emilio Díaz Ruiz of  "Structured deposits", Revista de Derecho Bancario y Bursátil, no. 89, 2003.

Co-author with Emilio Díaz Ruiz "Undesirable effects on the financial system of the new Insolvency Act". La Ley, no. 5825, 16 July 2003.