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In brief

In a recent article for Practical Law, Paula de Biase provides an overview of the national measures that have been taken in Spain relating to Regulation (EU) 2019/2088 on sustainability-related disclosures in the financial services sector (SFDR).


The SFDR imposes harmonized transparency and disclosure requirements relating to sustainability on financial market participants (FMPs) and financial advisers from 10 March 2021. It forms a key part of the European Commission’s reforms relating to sustainable finance, which is the process of taking environmental, social and governance (ESG) considerations into account in investment decision-making, ultimately leading to more sustainable investments and a greener economy. The aim of the reforms is to integrate ESG considerations into the investment and advisory process in a consistent manner across financial sectors.

For an overview of relevant national measures taken in Spain, please click here.


Paula De Biase leads the Financial Services Regulatory Department in the Madrid office. With more than 14 years' experience in financial regulation, she has advised national and international clients in various areas of the financial services sector: payment services, fund management, investment services, consumer credit and other banking and insurance services, including Fintech initiatives and other online and mobile solutions. Paula has taught Banking Law in the Master's programmes of several universities: the International Legal Consultancy degree at IE; the International Law, Foreign Trade and International Relations degree at ISDE; the Business Law degree at the Universidad de Navarra, and the Venture Capital and Entrepreneurship degree at INCARI/Rafael del Pino Foundation.