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ECC/461 Ministerial Order on Corporate Governance

Spain Current 2013

The ministerial order regulates the structure of the Corporate Governance Report, the Annual Report of Remunerations and other information tools required for listed companies, savings and other entities related to official stock markets. The aim is to strengthen and expand the information required in the Corporate Governance Report.

Issuer name

Ministry of Economy and Competitiveness

Issuer notes

National Goverment

Government ministry


Government ministry notes

Ministry of Economy 

More information

The ministerial order adapts the rules of corporate governance obligations of Law 2/2011 of March 4 on Sustainable Economy and the Royal Decree 11/2010 of 9 July on governance and other aspects of the legal regime of savings. The rule also addresses the definition of the types of directors that was broadly contained in the Code of Good Governance. These definitions now include a general provision, subject to the provisions of the Securities Market Act, regarding non-compliance on social issues. The Annual Report of Remunerations must contain the policy approved by the Board of Directors and the individual details of the remuneration received by each of the directors.

Organizations covered by the instrument

Large private and listed companies

Target organization notes

All reporting entities

Industry scope

All/none specified

Disclosure venue

Annual Corporate Governance report and Annual report of Remunerations

ESG coverage- S (Social)

Social Impacts & Value Creation

ESG coverage- G (Governance)

Accountability, Anti-Corruption and Anti-Competitive Behaviour

ESG coverage- Eco (Economic & General)

Economic performance







Date of publication


Issuer type

Governments (governmental department, agency)

Reporting requirements

Public law and regulation

Mandatory or voluntary


The geographical scope


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