When does an insider have to report a trade in Spain?
Directors and senior managers of Spanish listed companies report their trades to the CNMV, the Spanish securities regulator. The CNMV publishes each notification, and the company uses that same channel for its own duty to publish.
The rule
Spain applies Article 19 of the Market Abuse Regulation, and Article 230 of the Spanish Securities Markets and Investment Services Act fills in the national details. The MAR guide covers the EU rule in full.
Who has to report
Members of the board (consejeros) and senior managers (directivos) with regular access to inside information. Their closely associated persons report too: a spouse or partner, dependent children, relatives who shared the household for at least a year, and companies they control.
The deadline and the threshold
You report within three business days of the trade. Article 230 sets the threshold at €20,000 of trades in one calendar year, added up without netting purchases against sales. After the first notification, you report every further trade that year.
The CNMV publishes the filing
You file through the CNMV's electronic office. Article 230 makes the CNMV publish the notifications of managers at companies on a regulated market. The company meets its own duty to publish by passing the information through the CNMV's channel. All filings end up in one place: the CNMV's search of managers' transactions.
Spanish filings on this site
Insider Trades shows the CNMV filings as facts, next to the other European registers and the US, with a link to the source on every row. How we read and classify a filing is on the methodology page.
- Buyer clusters and buying streaks count Spanish buys per register.
- Company index: a page per company, Spanish issuers included.
Checked against the regulation and the regulator’s own pages on Oct 31, 2026. This guide explains the rules; it is not legal or investment advice.
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