Market development for small and medium-sized businesses: NSSMC learns from Spain’s experience

Employees of the National Securities and Stock Market Commission participated in a webinar organized by the Spanish National Securities Market Commission (CNMV). The event focused on the development of markets for small and medium-sized businesses.

During the webinar, representatives of the Spanish regulator shared their experience with the SME Growth Market — a specialized market for small and medium-sized enterprises — and discussed regulatory approaches in Spain.

Webinar participants learned about:
● the conditions for small and medium-sized businesses to access capital markets;
● financial instruments available for trading on the SME Growth Market;
● tax and other incentives for companies and investors;
● requirements for operators of such markets.

During the webinar, special attention was given to disclosure requirements, MiFID II requirements, and recent changes in the areas of listing and trading in financial instruments.

Holding such events facilitates the exchange of practical experience among regulators and the study of EU approaches to the development of capital markets for small and medium-sized enterprises.