Smart contracts and consumer protection in Spain
Smart contracts are becoming the new preferred type of contract used in the financial sector. They are easy to use, have lower transaction costs, shorten settlement cycles, mitigate fraud and are transparent. However, an interesting aspect is whether smart contracts will offer consumer or buyer protection.
The post-contractual non-compete agreement in Spain
The post-contractual non-compete agreement is contemplated in Article 21.2 of the Spanish Workers’ Statute (Estatuto de los Trabajadores), and it is essential to preserve, among others, the experience, training, networking, etc. acquired by a worker during his or her employment in a company.
Obligatory legal information for a web page in Spain
The legal obligations that affect companies that are not on the internet also apply to those companies that create a web page. Furthermore, there are a series of legal requirements and specific obligations that are necessary to open a business on the internet, and they are related to the specific legislation of e-commerce in Spain.
Legal aspects of online sales in Spain
E-commerce businesses in Spain must comply not only with the same commercial, fiscal and employment regulations as physical businesses, but they are also subject to the regulations established in the LOPD and the LSSICE.
Regulatory regime applicable to consumer loans in Spain
Consumer loans in Spain are monitored by government regulatory agencies for their compliance with consumer protection regulation. The Bank of Spain (together with the Spanish National Securities Exchange Commission) is the government body that exercises general supervisory powers over domestic credit institutions.
Dismissal costs for a company in Spain
The reasons that can justify a disciplinary dismissal in Spain must be based on serious breach and negligence of the employee, for instance repeated and unjustified absence of attendance or punctuality at work, indiscipline or disobedience at work, the continuous and voluntary decline in the normal work performance or verbal or physical offenses.
The Code of good governance of listed companies in Spain
Among the objectives of the Code of Good Governance are: to manage the maximum levels of competitiveness of Spanish companies, to generate trust and transparency for national and foreign shareholders and investors, to enhance the internal control and corporate responsibility of companies and to assure the adequate distribution of functions, tasks and responsibility within companies.
Fintech and Consumer protection
Fintech is on the rise and competing with financial institutions. Fintech firms offer consumers benefits such as more and easier options for funding. However, there is a catch. While offering benefits to consumers who would be unable to receive such benefits via traditional financial institutions, these fintech services also create risks for consumers.
The elimination of judicial court fees for companies
The Spanish Constitutional Tribunal concludes that the quantity of the judicial court fees (both the fixed and the variable fees) are disproportionate for companies and could dissuade them when it comes to lodging a complaint with Judicial Tribunals.
The nature of penalty clauses in contracts
Penalty clauses in commercial contracts are extra obligations provided in the commercial contract. Their increasing use aims to ensure compliance with the primary obligation in that incompliance allows for reimbursement.
