Spanish business leaders are being told they have to declare any illicit love affairs - to the stock market.The proposed law also compels disclosure of homosexual relationships, potentially "outing" businessmen's gay lovers. The El Mundo newspaper denounced what it called a "impossible stock market inquisition":
In an attempt to crack down on insider trading, the directors of companies quoted on Spain’s stock exchange will have to come clean, on a twice-yearly basis, about anyone with whom they are having an "affectionate relationship".
In July, legislation will be brought in by the regulatory body, the Comisión Nacional del Mercado de Valores (CNMV), to try to clean up the image of Spanish business practices.
Privileged information about share prices, takeovers and company results is frequently leaked from the companies involved, and the CNMV hopes the government-backed move will help to make dealings more transparent.
Where is this register of partners and lovers to be? What constitutional precept allows such an invasion of privacy?Spanish authorities blame the EU: "It is also now part of the international accounting norms that have been applied in the EU since January 1." Another good reason to ax the EU.
(via Overlawyered)
3 comments:
Yes, but of course it was Spain that passed this law and there is not another like it. National politicians pointing fingers.
I have not stopped laughing about this story since I first read it.
Hmmm...well, who decides whether a relationship is affectionate? Moreover, who decides whether it is a relationship? Is a one-night stand a relationship? Is it affectionate? It might depend on what the meaning of "is" is...Call in an expert, our former Commander-in-Chief...
M_O_M:
Perhaps because Spain is the only European country to retain (barely) the siesta? Spouse evading might be easier at 2pm than 10pm.
Mak:
Good point! In the case of Senator Byrd, he's most affectionate to West Virginia concrete adorned by his name.
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