Third Joint Statement pending the Transposition of the CSRD Directive and successive amendments to the Spanish Legal System. ICAC and CNMV.

The CNMV and the ICAC update the content of the 2025 press release, indicating that it is considered advisable for entities subject to Law 11/2018 that have more than 1,000 employees to publish the NFIS considering the ESRS, while entities subject to Law 11/2018 that have less than 1,000 employees, in the preparation of their NFIS for the 2026 financial year, to assess the convenience of applying the ESRS. In any case, entities obliged to report NFIS must continue to do so.