Legal action against Bank of Spain already seeing results, claims lawyer

Alberto Ruiz Ojeda

The lawyer acting for a group of small shareholders suing the Bank of Spain over the flotation of failed bank Bankia in 2010 has told the "landmark" case is already affecting the behaviour of the country's financial regulatory regime.

Alberto Ruiz Ojeda, a partner at Málaga-based law firm Cremades & Calvo-Sotelo, acting for Spain's small shareholders association AEMEC, said the decision to allow Bankia to list itself on the stock market through an initial public offering (IPO)

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