Europe Spain Banking & Finance: Financial Services Regulation

KPMG Abogados is home to a highly reputed Madrid-based banking and finance regulatory team. The practice group regularly advises Spanish entities on compliance with EU rules for the financial services sector. It also shows prowess in handling compliance gaps and designs strategies to meet obligations under MiFID II, MiFIR and PSD2. Furthermore, KPMG assists banks with regulatory authorisation procedures for new entities and for the provision of new financial services. Besides its excellence in regulatory mandates, clients also benefit from the law firm's growing presence in asset finance mandates.

As one of Spain's leading banking and finance law firms, Cuatrecasas regularly handles large and highly complex mandates for its prestigious clientele comprising Spanish corporates, capital funds and banking syndicates. The practice has a proven track record of representing debtors in major refinancing and debt restructuring matters, with additional experience acting for lenders and financial sponsors. Cuatrecasas is particularly renowned for its excellence in infrastructure and energy project financings across Spain. The firm has further expertise in NPL transactions and corporate financings. The highly regarded fund formation team sits within a broader financial services regulatory practice that advises on M&A deals, the establishment of local branches of European entities or the launch of new products as well as cryptocurrencies. Due to its presence in the UK and Latin America, Cuatrecasas is particularly well positioned to assist with international mandates.

Deloitte Legal offers a strong banking and finance regulatory department. The Madrid-based team regularly advises international and national banks, investors and corporates on a range of regulations from MiFID II and PSD2 to AML. Furthermore, clients benefit from Deloitte's expertise in product launches and market expansions, digital services outsourcing issues and corporate transactions requiring comprehensive regulatory assessments. Aided by its global office network, the law firm is well placed to assist with cross-border transactions.

Due to its outstanding Madrid-based team, Garrigues is regularly sought after for its expertise across the full spectrum of banking and finance mandates and climbs to the top tier this year. The department is especially known for its prowess in advising on significant project finance agreements that facilitate energy and infrastructure developments in Spain and abroad, including those with ESG components. Furthermore, Spanish corporates and banks appreciate the firm's strength in refinancings, acquisition and asset finance transactions. The law firm complements its holistic offering with its presence in finance regulatory mandates, especially those pertaining to the authorisation and set-up of new investment vehicles and M&A transactions.

Linklaters houses a top-tier banking and finance practice with excellent bench strength. The department is heavily involved in leveraged buyouts and refinancing transactions, and often advises large lending syndicates or financial sponsors on high-value finance transactions. The department additionally assists with the negotiation of credit facilities that incorporate sustainability targets for borrowers. Furthermore, Linklaters assists major Spanish corporates with various transactions ranging from the refinancing of debt through to new project finance transactions in the renewables energy sector. The law firm complements its services with its expertise in standalone regulatory mandates for banks and financial services companies, advising on EU-wide regulations, compliance in M&A matters and market entries.

Spanish law firm Ramón y Cajal Abogados houses a respected banking and finance department with expertise in project finance as well as financial regulation. The department regularly assists with the financing of energy projects, especially those involving renewable energy, acting for known lenders. Clients also benefit from the firm's expertise in real estate-related finance and refinance deals. Ramón y Cajal remains a sought-after adviser for banking and finance regulation mandates, assisting with corporate transactions requiring regulatory advice. Leveraging the strength of its offices in Madrid and Barcelona, the group is well placed to handle nationwide and cross-border mandates.