Regulatory regime applicable to consumer loans in Spain
Consumer loans in Spain are monitored by government regulatory agencies for their compliance with consumer protection regulation. The Bank of Spain (together with the Spanish National Securities Exchange Commission) is the government body that exercises general supervisory powers over domestic credit institutions.
Dismissal costs for a company in Spain
The reasons that can justify a disciplinary dismissal in Spain must be based on serious breach and negligence of the employee, for instance repeated and unjustified absence of attendance or punctuality at work, indiscipline or disobedience at work, the continuous and voluntary decline in the normal work performance or verbal or physical offenses.
The Code of good governance of listed companies in Spain
Among the objectives of the Code of Good Governance are: to manage the maximum levels of competitiveness of Spanish companies, to generate trust and transparency for national and foreign shareholders and investors, to enhance the internal control and corporate responsibility of companies and to assure the adequate distribution of functions, tasks and responsibility within companies.
Fintech and Consumer protection
Fintech is on the rise and competing with financial institutions. Fintech firms offer consumers benefits such as more and easier options for funding. However, there is a catch. While offering benefits to consumers who would be unable to receive such benefits via traditional financial institutions, these fintech services also create risks for consumers.
The elimination of judicial court fees for companies
The Spanish Constitutional Tribunal concludes that the quantity of the judicial court fees (both the fixed and the variable fees) are disproportionate for companies and could dissuade them when it comes to lodging a complaint with Judicial Tribunals.
The nature of penalty clauses in contracts
Penalty clauses in commercial contracts are extra obligations provided in the commercial contract. Their increasing use aims to ensure compliance with the primary obligation in that incompliance allows for reimbursement.
Control of working hours and overtime in Spain
The regulations on labour and employment in Spain require that all companies keep a daily record of the working hours and the overtime completed by workers. The detection of breaches in compliance with the regulations can result in economic fines for companies.
The part-time contract linked to training in Spain
Companies in Spain that employ workers under the age of 30 years old may apply for a reduction of the company’s contribution to social security. This allowance will be from 75% to 100% depending on the number of workers and will be applicable for a period of one year, which may be extended for another year.
The Cross-border transfer of a company’s registered office between Czech Republic and Spain
Useful information for entrepreneurs interested in the cross-border transfer of a company’s registered office, focusing on the practical aspects of cross-border transfers rather than on the technical details of the transfer itself.
Sun Tax on Photovoltaic systems in Spain
The new law regarding the taxation of photovoltaic systems in Spain requires that households operating this technology pay grid fees in addition to a ´sun tax´. Furthermore, it regulates the selling of electricity from private households. The fines for not complying with the restrictions can reach a height of €60 million. However, installations smaller than 10kW and specific locations are exempt from this law.
