Modification of the Corporate Enterprises Act / On 4 December 2014, Act 31/2014 of 3 December was published in the Official Gazette of the Government of Spain, modifying the Corporate Enterprises Act (“CEA”) for the improvement of corporate governance.

Approval of the revised text of the Securities Market Act / On 24 October 2015 Royal Legislative Decree 4/2015 of 23 October was published in the Official Gazette of the Government of Spain, approving the revised text of the Securities Market Act.