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Ley 31/2014, de 3 de diciembre, por la que se modifica la Ley de Sociedades de Capital para la mejora del gobierno corporativo.

Law 31/2014, of December 3, which modifies the Capital Companies Law to improve corporate governance

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Summary

In 2014, Spain enacted "Ley 31/2014, de 3 de diciembre, por la que se modifica la Ley de Sociedades de Capital para la mejora del gobierno corporativo" or Law 31/2014, of December 3, which amends the Spanish Capital Companies Law to improve corporate governance. The law introduces a range of measures aimed at enhancing transparency and accountability in the management of Spanish companies, particularly those listed on the stock exchange. The measures include requiring companies to disclose more information about their governance structures and policies, and to establish committees to oversee risk management, audit, and remuneration. The law also introduces rules on shareholder rights, including greater transparency in relation to voting rights and the right to call shareholder meetings. Overall, the aim of the law is to strengthen the corporate governance framework in Spain and improve investor confidence in the country's business environment.

Thumbnail image for In 2014, Spain enacted "Ley 31/2014, de 3 de diciembre, por la que se modifica la Ley de Sociedades de Capital para la mejora del gobierno corporativo" or Law 31/2014, of December 3, which amends the Spanish Capital Companies Law to improve corporate governance. The law introduces a range of measures aimed at enhancing transparency and accountability in the management of Spanish companies, particularly those listed on the stock exchange. The measures include requiring companies to disclose more information about their governance structures and policies, and to establish committees to oversee risk management, audit, and remuneration. The law also introduces rules on shareholder rights, including greater transparency in relation to voting rights and the right to call shareholder meetings. Overall, the aim of the law is to strengthen the corporate governance framework in Spain and improve investor confidence in the country's business environment.
Issuer

Spain

Year

2014

Region

Europe

Issuer (type)

The Spanish Government (Government)

Policy Type

Disclosure

Geographical scope

National

Mandatory or voluntary

Mandatory


Main industries targeted
  • Administrative, Support, Waste Management
  • Finance & Insurance
  • Public administration
  • Transportation & Warehousing
Restrictiveness

High

Sustainable Development Goals (SDGs)
  • SDG 5: Gender Equality

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