July 30, 2021

The CNMV sanctions Borrell

The CNMV sanctions Borrell


The National Securities Market Commission (CNMV) confirmed Wednesday that it has processed an administrative sanctioning file to the Minister of Foreign Affairs, EU and Cooperation, Josep Borrell, for a sale of Abengoa shares when he was a director of the company.

In a statement, the supervisor indicated that the file, dated July 13, 2017, refers to a sale of Abengoa shares amounting to 9,030 euros ordered in November 2015 when he was a director of the company and, in the opinion of the CNMV, "he knew relevant information that had not yet been published".

The shares sold did not belong to Borrell but to a person from his immediate environment, according to the CNMV, who recalled that the resolution of the file, issued on September 27, is not firm, so the minister can appeal to the Ministry of Economy and Business and, where appropriate, subsequently before the contentious-administrative jurisdiction.

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