CNMV insider disclosures (Spain)
A comunicación de operaciones de directivos is the disclosure a person discharging managerial responsibilities, or a closely associated person, files when transacting in their own company's securities in Spain. It falls under Article 19 of EU MAR and must be published within three business days of the transaction.
- Regulator: Comisión Nacional del Mercado de Valores
- Filing: comunicación de operaciones de directivos
- Framework: Article 19 of EU MAR
- Deadline: within three business days of the transaction
How InsiderScope reads CNMV filings
Filings are pulled from the primary CNMV source, deduplicated against previously ingested disclosures, matched to the issuer and characterised on the same Score A to Score D scale as every other jurisdiction. Read the methodology pillar, the empirical evidence, the Spain company hub or all regulator coverage.
Questions people ask
What is a comunicación de operaciones de directivos?
A comunicación de operaciones de directivos is the disclosure a person discharging managerial responsibilities, or a closely associated person, files when transacting in their own company's securities in Spain. It falls under Article 19 of EU MAR and must be published within three business days of the transaction.
When must a comunicación de operaciones de directivos be published?
Within three business days of the transaction, as required by Article 19 of EU MAR. The publication timestamp, not the transaction date, is what InsiderScope treats as the start of a signal.
Where does CNMV publish operaciones de directivos?
Comisión Nacional del Mercado de Valores publishes them on its own official disclosure channel, which is the only source InsiderScope reads for Spain. No aggregator or third-party feed sits in between.
How do I track operaciones de directivos in Spain?
Filter the screener to Spain to see each published disclosure with its band, or set an alert on a company or insider. Every field is normalised to the same schema used for the other jurisdictions in scope.
Does InsiderScope grade every CNMV filing?
No. A filing is graded only when the source is live and the disclosure carries the fields the characterisation needs. Anything else stays visible as unscored rather than being quietly dropped.
Can Spain disclosures be compared with other markets?
Yes. CNMV filings are mapped into the same schema and the same Score A to Score D scale as the other 11 regulators, so a Spain disclosure and a US Form 4 are described on identical terms.
InsiderScope characterises public regulated disclosures. Not advice. Not recommendations.