La CNMV inicia la consulta del proyecto de Circular sobre normas contables, cuentas anuales y estados financieros intermedios de las infraestructuras del mercado

The stated aim is to simplify the accounting and financial information that market infrastructures submit to the CNMV, including possible changes to the frequency of preparing and filing financial statements, plus technical updates. For compliance and finance teams at exchanges, CCPs, CSDs, trade repositories and other CNMV-supervised market infrastructures, the practical focus should be on mapping current reporting calendars and controls against the proposed changes. Even where reporting frequency is reduced, firms will need to confirm data quality, audit/board oversight and regulatory submission processes remain robust.

The consultation window is short: comments are due by 4 November 2026. Affected entities should review the draft, identify operational or interpretive issues, and decide whether to respond directly or through industry bodies. Final text may not be imminent, but reporting teams should plan for possible changes to interim reporting cycles and related governance.

Key actions: assess the impact on the finance and reporting operating model; update regulatory change logs; validate that any reduced frequency does not weaken internal controls; and monitor the CNMV’s final circular and implementation timetable. This is a moderate-impact consultation rather than an immediate rule change; urgency is medium because the response window is tight, but implementation obligations will follow only after finalisation.