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Economy

Approval of the regulations governing the State Register of entities interested in the PERTEs

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March 10, 2022

Order HFP/168/2022, of March 7, which regulates the operation and structure of the State Register of entities interested in the Strategic Projects for Economic Recovery and Transformation.

This order is issued in exercise of the legal authorization contained in Article 9.4 and in the first additional provision of Royal Decree-Law 36/2020, of December 30, which approves urgent measures for the modernization of the Public Administration and for the execution of the Recovery, Transformation and Resilience Plan.

The purpose of the order is to regulate the structure and operation of the State Register of entities interested in the Strategic Projects for Economic Recovery and Transformation (REPERTE) within the scope of the General State Administration, as well as the necessary procedures for its use by the ministerial departments concerned, as an instrument of registration and certification of the accreditation of the entities interested in the PERTE approved by the Council of Ministers.

The order is structured in 14 articles, two additional provisions, one transitory and two final provisions. Among other things, it will include the objective, subjective scope, access to the Register, which will be public and will be governed by the provisions of Law 19/2013, of December 9, on transparency, access to public information and good governance, the information to be sent by the competent body with respect to each accredited entity to be registered, as well as the competent bodies.

Likewise, the procedure will be carried out in two phases:

  1. Accreditation, in which the competent ministries in each of the PERTES will be responsible for establishing by regulation the technical, economic and legal conditions required, receiving the applications from the interested parties, evaluating them and agreeing or denying accreditation.
  2. Registration, in which the responsible ministries will communicate the accreditation resolutions adopted to the General Intervention of the State Administration for the purpose of their registration in the Register.

The REPERTE will include the registration of all entities accredited as interested in a PERTE, public or private, whatever their legal nature, territorial scope, regardless of their form of incorporation, which have been accredited by a ministerial department as entities interested in a PERTE approved by Agreement of the Council of Ministers, in accordance with the procedure established by each one.

Regarding its structure, the registry will be divided into sections corresponding to each of the PERTEs that have been approved by Agreement of the Council of Ministers according to the provisions of Royal Decree-Law 36/2020, of December 30. Each of the sections may, on the one hand, open subdivisions at the project level if different requirements are established for the accreditation of the interested entities and, on the other hand, the entities that have been accredited as interested in the PERTE by the competent ministerial department will be registered.

The REPERTE will perform the following functions :

  • To disseminate the administrative acts of accreditation of interested entities of the different ministerial departments responsible for the PERTE.
  • Ensure a common data structure for PERTE stakeholders.
  • Provide access to the data of accredited entities.
  • Certifying the registration of an entity in the Registry as accredited by the Ministry

Finally, the order will become effective on March 11, 2022.

Developments at the Council of Ministers meeting held on March 8

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FOR THE ECOLOGICAL TRANSITION AND DEMOGRAPHIC CHALLENGE

  • Royal Decree regulating the activity of providing energy recharging services for electric vehicles.
    The Council of Ministers has approved a Royal Decree that regulates the activity of providing energy recharging services for electric vehicles and defines the rights and obligations of the agents involved in the activity.
    The Royal Decree defines the two legal entities that may participate in the recharging activity:
    - The operator of the recharging point, holder of the exploitation rights of the recharging stations and responsible for their physical operation.
    - The electric mobility service provider company, an intermediary between the operators and the users of electric vehicles, which can provide value-added services to such users.
  • Agreement approving the Strategic Project for the Recovery and Economic Transformation in Circular Economy (PERTE EC).
    The Council of Ministers has approved the Strategic Project for Economic Recovery and Transformation (PERTE) in Circular Economy, a plan aimed at accelerating the transition to a more efficient and sustainable production system in the use of raw materials that aims to meet the objectives contained in the Spanish Circular Economy Strategy for the year 2030.
    In this way, PERTE is committed to the three fundamental objectives for the advancement of the Circular Economy in Spanish industry:
    - The promotion of the eco-design of products to make them more durable and repairable from their very origin, reducing waste.
    - Improving waste management through treatment plants that increase reuse, recycling and the incorporation of recovered raw materials in the production of new goods.
    - And the promotion of digitalization linked to both objectives, which will improve the competitiveness and innovation of the industrial fabric in any sector.

CNMV sets crypto-asset advertising regulations

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Circular 1/2022, of January 10, 2010, of the National Securities Market Commission, regarding the advertising of crypto-assets presented as investment objects.

Its objective is to develop the rules, principles and criteria to which crypto-asset advertising activity must be subject. Specifically, it will delimit the objective and subjective scope of application, as well as the powers of the CNMV in matters of supervision and control of the advertising of cryptoassets, in accordance with the provisions of Article 240 bis of the revised text of the Securities Market Law approved by Royal Legislative Decree 4/2015, of October 23.

This Circular consists of seven rules, one final provision and two annexes.

  • The first and second rules, referring to object and definitions.
  • The third rule establishes the objective scope of application of the Circular and delimits the activities that are considered as advertising activities. On the other hand, it determines that certain professional activities ("white papers", publications on cryptoassets issued by analysts or independent commentators and which are not sponsored or promoted), or certain unique non-fungible assets or those which, due to their characteristics, are not susceptible to being the object of investment, shall not be considered as advertising activities.
  • The fourth rule establishes the subjective scope of application. It will include cryptoasset service providers when they carry out advertising activities and advertising service providers, as well as any other natural or legal person who, either on its own initiative or through third parties, carries out an advertising activity on cryptoassets.
  • The fifth rule refers to the format and content requirements to be met by advertising campaigns, as well as the information on the risks of the product being advertised that must be included in commercial communications, highlighting the requirement that advertising must be clear, balanced, impartial and not misleading, in the case of those commercial communications and advertising pieces that provide information on the cost or profitability of a crypto-asset, these must contain clear, exact, sufficient and updated information, in a manner appropriate to their nature and complexity, the characteristics of the media used and the target audience to which they are addressed.
  • The sixth rule refers to the supervisory functions of the CNMV, distinguishing between mass campaigns aimed at the general public and other advertising actions.
  • The seventh rule establishes the prior notification regime to which mass advertising campaigns must be subject. Obligated parties must provide, at least ten working days prior to the execution of the campaign, a document of prior notice of mass advertising campaign, which shall be in accordance with the model that the CNMV includes for this purpose on its website, as well as the other documentation detailed in the aforementioned rule.
  • The Annexes to this Circular contain the general principles and criteria to which advertising must conform, as well as the minimum content of the information on the nature and risks to be provided to potential investors in cryptoassets. The Board of the CNMV, in accordance with its powers, following a report from the CNMV's Advisory Committee and having heard the Council of State, has approved the Circular.

The circular will enter into force one month after its publication in the BOE.

 

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Approval of the Annual Regulatory Plan 2022

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Agreement approving the Annual Regulatory Plan of the General State Administration for the year 2022

All ministries have participated in the preparation of NAP-22 and the 368 regulatory proposals that comprise it develop the Government's program and the Recovery, Transformation and Resilience Plan (PRTR). These proposals include 92 laws (11 organic and 81 ordinary) and 276 royal decrees. Almost four out of ten laws (38.2%) develop PRTR commitments. In total, 61 of the 368 projects are related (16.57%).

Among the standards that are part of PAN-22 are the following:

Digital transformation

  • Reform of the Science Law to guarantee an attractive and stable research career, promote knowledge transfer and foster research by facilitating coordination with the Autonomous Regions and the administrative procedures for new projects.
  • Reform of the Industry Law, which adapts the 1992 text to the current productive and economic reality.
  • Law to ensure the security of 5G electronic communications networks and services, which will also promote market diversification.
  • Royal decree developing the statute of the student startup, a pedagogical tool to enable them to carry out internships as if they were actually creating their own company.

Social and territorial cohesion

  • Housing Law, which regulates the basic conditions for the enjoyment of the right to decent housing, providing public administrations with instruments to contain price increases and favor access by young people.
  • Law for the equity, universality and cohesion of the National Health System, which guarantees the homogeneity of health services throughout the country, establishes direct public management as the preferred management formula and limits the establishment of new co-payments.
  • Social services law, committed to in the government agreement to guarantee a minimum portfolio of services throughout the territory.
  • Royal Decree regulating the seal of social inclusion, a public label for public and private companies that develop actions that contribute to the transition of people benefiting from the minimum living income to active participation in society.
  • Law against racism and other forms of intolerance.
  • Law on the organizational regime of municipalities with smaller populations and on the improvement of collaboration relations between public administrations, in order to digitalize and modernize rural municipalities and thus contribute to slowing down depopulation.

Gender equality

  • Reform of the Law on Integral Protection against Gender Violence, in order to advance in the fulfillment of international commitments and to adapt it to the State Pact and the Organic Law on Integral Guarantee of Sexual Freedom.
  • Law for comprehensive action against trafficking in human beings and for the protection of victims, which will especially address trafficking for the purpose of sexual exploitation.
  • Amendment of the Law on Sexual Health and Voluntary Interruption of Pregnancy, to promote and guarantee full, real and effective equality of women in access to sexual and reproductive health and free decision on voluntary interruption of pregnancy.
  • Transposition of the Directive on reconciliation of family and professional life of parents and caregivers, which establishes new rights on parental and caregiver leave.

Ecological transition

  • Law establishing the rules for the implementation in Spain of the common agricultural policy management system.
  • Sustainable fisheries and fisheries research law, to promote the modernization of the sector.
  • Amendment of the Nuclear Energy Act, in relation to radiologically contaminated land.
  • Transposition of the Directive on the promotion of the use of energy from renewable sources.
  • Royal Decree on the protection of water against diffuse pollution caused by nitrates.
  • Another block of regulations focuses on democratic regeneration, among which the law on the prevention of interests in the public sector and the law on transparency stand out.

What is the regulatory framework in a company?

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Knowing what the regulatory framework is in a company is essential for proper management of the company.

It provides the basis on which the scope and nature of participation in the company is built and determined, based on a complex combination of statutes and legal regulations, so that the company's activities are carried out harmoniously and without incurring legal risks.

In today's post we will tell you about the importance of its implementation and compliance, as well as who should be responsible for its management.

The answer to the question "What is the regulatory framework in a company?" involves several nuances, mainly based on the fact that it is a set of regulations, rules and laws that apply to the activities and/or functions included in the corporate planning.

As we mentioned at the beginning, its identification in advance is essential so that actions are carried out harmoniously and without incurring any type of risk in a legal sense. It could be said that it delimits how and how far your company can go, allowing you to regulate the market, preventing the abuse of resources and preserving a certain economic balance.

However, its scope encompasses many more beneficial aspects, making an in-depth understanding of how it works of great importance.

Not knowing what the regulatory framework is in a company when entering into profit-making or commercial agreements poses a risk to the company.

It is possible that you are unaware of certain legal regulations, or that you even consider that the existing ones do not apply to your company. But what would happen if they did apply? This could result in significant financial costs and legal problems that are perfectly avoidable.

Therefore, structuring the plans that your business will follow and defining a regulatory framework that adapts to it will avoid many problems, allowing you to comply with the parameters dictated by the law and without making mistakes. This, in turn, will lead you totake care of the integrity and reputation of the organization you manage.

Once you know what the legal framework is in a company, you must ensure compliance with it. To do this, you must establish the required procedures and policies to ensure that they are followed by employees, managers and partners.

Within this framework, there are two areas: the code of ethics and the external requirement.

The first can be voluntary and depends on what you decide especially for your company. However, the second is mandatory and you do not have the power to change it, and it is essential that you are informed of possible regulatory changes, instituting clear internal policies for this purpose.

Failure to comply with or exceed the regulatory framework in a company can result in various criminal consequences, which can result in fines of great economic value and even imprisonment in the most serious cases.

Hence the importance of ensuring that each of the people under your authority fulfill their role,always respecting the respective regulatory framework that applies to the proper management of your organization.

Although it is everyone's responsibility to adapt to the regulatory framework, there must be a team in charge of managing and supervising it. This team will be responsible for ensuring that the ethical and legal regulations imposed are applied, and must perform the following functions:

  • Verify documentations: you will strive to ensure that the decisions made and the actions to be taken are ethically applied.
  • Provide support to solve problems: you will support the different departments to be managed efficiently and objectively when solving problems.
  • Provide the company with training: train employees in legal and juridical matters so that they comply with regulations and avoid any legal risk.

If you do not have the qualified professionals to do it, PKF Attest offers you a professional service in management of legal requirements for companies. You can count on us to overcome the regulatory challenges facing your company, receiving full advice throughout the process.

  • You will prevent fiscal and legal inconveniences in the short, medium and long term.
  • You will not obtain monetary expenses derived from non-compliance with laws.
  • You will avoid legal problems that will damage the careful reputation created for the good of your corporation.