Regulations

Royal Legislative Decree 4/2015, which approves the consolidated text of the Securities Market Law, and Royal Decree 217/2008 of February 15, on the legal framework for investment firms, require financial institutions to develop a Conflict of Interest Policy to inform their clients of potential situations that could create conflicts of interest and potentially harm them.

Therefore, the Institution has developed a Conflict of Interest Policy in accordance with these regulatory requirements, which is summarized in this document.

This Conflict of Interest Policy applies to all areas of the Institution and, consequently, to all employees and managers whose work is related to the provision of investment or ancillary services, or the carrying out of investment activities.