Spanish Boards Under the Microscope in CNMV’s 2025 Governance Review
The Spanish National Securities Market Commission (CNMV) published its annual reports on corporate governance and board remuneration on September 21, drawing together disclosures submitted by listed companies for the 2025 financial year. Spain’s listed companies reported greater adherence to the country’s Good Governance Code in 2025, even as the largest companies lost some ground on a measure the code is meant to encourage: independent oversight in the boardroom.
