International Business Law

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Cassels Brock

Mike Tallim

Executive Editor, International Business Law
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Cassels Brock

Carla Potter

Contributing Editor, International Business Law
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Carlton Fields

Thomas F. Morante

Contributing Editor, Business Regulation & Regulated Industries
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MONTH-IN-BRIEF (Aug 2024)

New Obligations for Directors of Spanish Companies

By Ignacio Montoya, Across Legal

To comply with European Union objectives, the Spanish government approved the Gender Equality Law published on August 2, 2024, which aims to promote gender balance in the political, economic, and public spheres.

The law’s new obligations for companies will apply to listed companies and public interest companies that have more than 250 employees and an annual turnover greater than €50 million or total assets exceeding €43 million.

The main obligations are: (i) ensuring that the board of directors and senior management of the company is at least 40 percent persons of the underrepresented gender; (ii) providing shareholders with information on the measures required regarding balance between women and men on the board of directors, as well as on possible sanctions for noncompliance; and (iii) publish annually, as part of the sustainability report, information related to this topic.

Argentine Law “Bases and Starting Points for the Freedom of the Argentine People” Passed

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