The CNMV’s Chairman, Sebastián Albella, appeared before the Economy, Industry and Competitiveness Commission of the Spanish Parliament to present the institution’s 2018 Annual Report. In his speech, the Chairman reviewed the main features of the economic and financial environment, market trends and the CNMV’s activities in its different areas. Among other issues, Albella referred to:

• 2018 as the first year of application of the MiFID II Directive;
• the need to help make our financial markets and centres more efficient and competitive;
• the European Union Capital Markets project;
• the added value, which, in terms of retail investor protection, is delivered by the CNMV as a supervisor;
• the work undertaken by the CNMV with regard to relevant corporate transactions;
• the role of the CNMV in the area of sustainable finance;
• And finally, the need for the CNMV to regain part of the managerial autonomy that it had some years ago.

Access the full speech and the video of the speech