Deloitte Legal‘s financial services regulation practice in Spain is structured around four key pillars: banking, capital markets and investment services, insurance, and payment services. Renowned for its expertise in navigating complex international regulatory projects, the team is the trusted adviser to a diverse client base, including traditional banks, payment entities, fintechs, blue-chip companies, and industrial clients developing crypto and financial products. Led by Francisco Ramírez Arbués, the team excels at the intersection of tech law and financial services. Ramírez Arbués is a recognised expert in digital and retail banking, who frequently advises on the launch of innovative financial products and the implementation of new financial regulations. Manuel Gómez Gilabert brings extensive experience in banking regulation, financial instruments, and the restructuring of financial entities. Additional key figures include Inés Gutiérrez, a specialist in regulatory compliance, and Miguel Bercedo, noted for his expertise in payment regulations and related projects.

Financial services regulations are at the core of KPMG Abogados, Spain's legal services in Spain. Structured into four main groups —compliance and corporate governance; investor protection and transparency; prudential supervision and authorisation of regulated entities; and blockchain and fintech— the team offers comprehensive advice across the financial services regulatory landscape. With extensive expertise in implementing complex frameworks such as RIS, MiFID II, IDD, and ESG-related regulations, the team has the ability to drive multidisciplinary projects for top credit institutions, leveraging KPMG’s consulting and auditing capabilities. Francisco Uría Fernández, a seasoned expert in banking, capital markets, and insurance regulations, leads the core financial and regulatory advisory team. María Pilar Galán Gavilá, head of the regulatory financial services practice and global lead of legal for KPMG IMPACT, brings extensive experience in implementing financial services regulations and advising on the regulatory aspects of financial reorganisations, financial service authorisations, and branch openings.

Clients from the credit, payments, asset management and insurance sectors regularly turn to Cuatrecasas for advice on regulatory compliance, new banking and financial products, and corporate transactions. Indeed, M&A in the banking and financial services space is a core strength for the department, which is also proficient in advising international financial institutions on the setting up of local branches and the reorganisation of their activities in Spain. Fintech matters are another area of expertise for the team, which is also retained by payment solution providers, cryptoasset and trading platforms, as well as neobanks. Drawing on his experience as a credit and savings institutions inspector at the Bank of Spain, Fernando Mínguez is the trusted adviser to several credit and payment service providers. Miguel Sánchez Monjo is another name to note for financial regulatory work and fund formation matters, while Jorge Canta focuses on the setting up of investment services companies.

Garrigues fields a financial services team that is recognised for its ‘high professionalism‘ and ‘deep expertise in sector regulations, standard practices, the regulator, and public bodies‘. Known for its impressive track record in M&A transactions with a regulatory bias, the team supports a broad client base with incorporation processes, including securing regulatory approvals, maintaining licenses, implementing changes to operational programmes, and complying with EU legislation. The firm’s expertise also extends to fintech initiatives, related compliance challenges, and sanctioning proceedings before supervisory authorities. The practice is led by Luis de la Peña, a specialist in banking regulations and the regulatory aspects of financial products, with strong support from Francesc Cholvi, who plays a key role in M&A involving regulated entities.

Linklaters is a key point of reference for several Spanish and international banks, investment firms, insurance companies, and trading and settlement systems seeking advice on the full range of financial services regulatory matters. The team’s wide-ranging expertise spans derivatives, banking and credit entities, insurance and pension plans, payment services, and employee option schemes. Paloma Fierro, a seasoned expert in financial markets regulations, frequently advises on regulatory M&A, derivatives, the setting up of credit institutions and branches, hedge fund manager incorporations and investment fund formation, among other mandates. Fierro oversees the practice with Bárbara González, who is noted for her work in OTC derivatives, investment funds, private equity fund matters, and financial regulations.

Clifford Chance‘s financial regulation practice in Spain is structured around six key verticals: banking, payments and lending; securities, investment services and market infrastructures; asset management; derivatives; fintech; and ESG issues. The firm is a popular choice for lenders, payment institutions, regulated entities, asset managers, insurance companies, fintech businesses, and multinationals, offering comprehensive support across the full spectrum of financial services regulation. The practice is led by José Manuel Cuenca, an expert in securities law, derivatives, and banking regulation, while María Luisa Alonso is a standout name for general banking and financial services regulatory matters.

Eversheds Sutherland's financial services regulation department in Spain assists banks, asset managers, funds and investment services firms with regulatory compliance issues, risk management, authorisation procedures, regulatory enforcement actions and transactions with a regulatory bias. The practice is led by Manuel López, a seasoned expert in matters involving entities and services under regulatory oversight and issues concerning investment funds and crypto assets. Borja Dopico is another key contact for banks, collective investment schemes, payment service providers, and fintech companies.

Working in collaboration with other firm-wide practices, including banking and finance, the financial services regulation team Pérez-Llorca advises a variety of prominent financial services clients–most notably asset managers and investment firms–on their regulatory requirements in Spain. The group stands out for its expertise in compliance and risk management procedures, corporate transactions involving regulated sectors, and payment services matters; it is also skilled in the regulatory implications of financing deals. Josefina García Pedroviejo is singled out for her ‘deep knowledge of financial regulation and investment funds‘. Eduardo Arbizu draws on his significant in-house experience at various leading banks. Cristina Vidal joined from Ramón y Cajal Abogados in February 2025.

Uría Menéndez is recognised for being ‘capable of proposing actionable solutions to problems of very high technical complexity‘ in the financial services sector. The firm serves a diverse client base comprised of major domestic and international banks, brokers, payment institutions, non-regulated lenders, crypto service providers, and non-financial entities. The team focuses on advising clients on the legal frameworks governing investment services, collective investments, asset management, payments, banking, and insurance activities. Recently, the group has been particularly active in assisting MiFID firms with the new prudential regime introduced under IFD and IFR, helping to establish illiquid funds and their management companies, and advising on BaaS (banking as a service) arrangements between regulated entities and distributors. Co-head Isabel Aguilar is ‘very knowledgeable about investment funds and the payment services sector‘, while fellow co-leader Carolina Albuerne is noted for her banking regulatory acumen.

Baker McKenzie‘s practice provides advice on compliance issues related to transactions and contractual matters in the financial services sector. Its expertise spans payment and e-money services, funds, asset management, insurance and fintech solutions. Department head Paula De Biase assists Spanish and international clients with the authorisation, establishment and regulatory compliance of products and activities subject to financial supervision.

Banks, investment services firms, other financial institutions, and listed companies regularly seek Dentons‘ expertise on Spanish and EU financial regulatory matters, particularly in areas such as AML, AIFMD, and UCITS. The team, led by Jesús Mardomingo, is also well-versed in advising on sanctioning proceedings and fintech-related issues. Lola Noguera is a key contact for both regulatory and transactional advice in this field.