SPAIN Law and Practice Contributed by: Miguel Cases and Claudi Rossell, Cases & Lacambra
based supervision and CNMV is to adopt ESMA’s strategic supervisory priorities – CNMV is to strengthen its supervision of the strategies for marketing investment products and services to retail investors; (b) CNMV will bolster its mechanisms for supervis - ing systemic risk and enhance its readiness to handle potential market shocks; (c) CNMV will continue to promote sustainable fi - nance to support the transition towards a more sustainable and inclusive economy; (d) the supervision of the issuance of crypto- assets, excluding stablecoins, and the activities of crypto-asset service providers; and (e) the supervision under the DORA Regulation and of AI. • The development of capital markets. • Adapting the institution for a new environment.
Likewise, the 2025 working plan, with 44 specific goals, was also published on its website. Although none of the goals is directly connected to derivatives, some of them will positively affect the whole financial system, especially those aimed at fostering cyberse - curity, digitalisation, governance, transparency and investor protection (in particular, ensuring that finan - cial influencers comply with rules on investment rec - ommendations).
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