MARCH ASSET MANAGEMENT, S.G.I.I.C., S.A.U.

• LiftedComisión Nacional del Mercado de Valores (CNMV)

  Debarment

  In this state since

  12 Sept 2026

  Designated

  27 Mar 2025

  Reason given

  LA CNMV ha impuesto a MARCH ASSET MANAGEMENT, SGIIC, S.A.U., multa por importe de 1.000.000 euros por la comisión de una infracción grave tipificada en el artículo 81.o) de la Ley 35/2003, de 4 de noviembre, de Instituciones de Inversión Colectiva (LIIC), por el incumplimiento de la obligación establecida en el artículo 67.3 en relación con los artículos 66 y 46.2 todos ellos de la LIIC y su desarrollo reglamentario, por no actuar la gestora en interés de las Instituciones de Inversión Colectivas gestionadas, pues al imponer su depositario (que forma parte de su Grupo) tarifas de liquidación superiores a la media del mercado y no someter dichas condiciones económicas a autorización o controles periódicos, habría realizado operaciones sin cumplir con las exigencias del régimen de conflictos de interés consistentes en operaciones vinculadas, generando un perjuicio económico para aquellas y sus partícipes o accionistas. [original (Spanish)] The CNMV has imposed a 1,000,000 euros fine on MARCH ASSET MANAGEMENT, SGIIC, S.A.U. for the commission of theinfringement classified as severe in Article 81.o) of Spanish Law 35/2003, of 4 November, on Collective Investment Institutions (LIIC), for the breach of the obligation established in Article 67.3 in relation to Articles 66 and 46.2, all of them of the LIIC and its regulatory development, for the management company failing to act in the interest of the Collective Investment Institutions managed, since by imposing its depositary settlement fees (which is part of its Group) at a higher rate than the market average and not subjecting said economic conditions to authorisation or periodic controls, it would have carried out transactions without complying with the requirements of the conflict of interest regime consisting of related-party transactions, generating economic harm to those and their participants or shareholders. THIS DECISION HAS BEEN DECLARED FINAL.

  Document

  The publisher's document (https://registers.esma.europa.eu/publication/details?core=esma_registers_sanctions&docId=sn14073)

  Stated by

  ESMA Sanctions Register

  First recorded here

  12 Sept 2026

  Listing id

  14073

• In forceComisión Nacional del Mercado de Valores (CNMV)

  UCITS

  In this state since

  12 Sept 2026

  Designated

  27 Mar 2025

  Reason given

  LA CNMV ha impuesto a MARCH ASSET MANAGEMENT, SGIIC, S.A.U., multa por importe de 1.000.000 euros por la comisión de una infracción grave tipificada en el artículo 81.o) de la Ley 35/2003, de 4 de noviembre, de Instituciones de Inversión Colectiva (LIIC), por el incumplimiento de la obligación establecida en el artículo 67.3 en relación con los artículos 66 y 46.2 todos ellos de la LIIC y su desarrollo reglamentario, por no actuar la gestora en interés de las Instituciones de Inversión Colectivas gestionadas, pues al imponer su depositario (que forma parte de su Grupo) tarifas de liquidación superiores a la media del mercado y no someter dichas condiciones económicas a autorización o controles periódicos, habría realizado operaciones sin cumplir con las exigencias del régimen de conflictos de interés consistentes en operaciones vinculadas, generando un perjuicio económico para aquellas y sus partícipes o accionistas. [original (Spanish)] The CNMV has imposed a 1,000,000 euros fine on MARCH ASSET MANAGEMENT, SGIIC, S.A.U. for the commission of theinfringement classified as severe in Article 81.o) of Spanish Law 35/2003, of 4 November, on Collective Investment Institutions (LIIC), for the breach of the obligation established in Article 67.3 in relation to Articles 66 and 46.2, all of them of the LIIC and its regulatory development, for the management company failing to act in the interest of the Collective Investment Institutions managed, since by imposing its depositary settlement fees (which is part of its Group) at a higher rate than the market average and not subjecting said economic conditions to authorisation or periodic controls, it would have carried out transactions without complying with the requirements of the conflict of interest regime consisting of related-party transactions, generating economic harm to those and their participants or shareholders. THIS DECISION HAS BEEN DECLARED FINAL.

  Document

  The publisher's document (https://registers.esma.europa.eu/publication/details?core=esma_registers_sanctions&docId=sn14073)

  Stated by

  ESMA Sanctions Register

  First recorded here

  12 Sept 2026

  Listing id

  14073

No ownership verdict was on file for this company on 24 October 2026.

As recorded by the assessment reading taken on 12 September 2026, 19:15 UTC, the newest on or before the date. Only “checked, not found” means a source was read in full and held nothing for the company.

Where the company is registered or connected

• ES: registered here

  No company register for this jurisdiction has been connected to this system, and none has been examined. No register here states who owns its companies.

• Whether each listing was in force is rebuilt from what was recorded here: when it was first read, when a source stopped or resumed carrying it, and when its published term ended. A listing in force at an authority before this system first read it is shown from that first read.
• No ownership verdict is kept for this company. Verdicts are kept for companies registered where shareholders are read here: Estonia, Latvia and Poland.

For each source behind this file, the newest read made on or before the date: the version of it that stood.

• ESMA Sanctions Register

  Read on 23 October 2026. No date from the publisher is read for this file, so its age is not known here. 845 records read.

Taken

12 September 2026, 19:15 UTC

Methodology

Version 4

Level

Medium

Score recorded

65 of 100

Digest

d34dec7ba80b6872adba13063460ef6a516ec7ecA fingerprint of everything the reading says. The same reading always has this digest, and any change in it gives another.

Reading id

4ed2fa84-788e-4a09-85a9-1a2d7fb42dc6

Address

https://apolika.com/entities/4b3d1ecb-52a6-499a-826f-641b5d096508/evidence?as_of=2026-10-24The same address gives the same day's file tomorrow. What was recorded after the date is not in it.

As data

https://apolika.com/api/entities/4b3d1ecb-52a6-499a-826f-641b5d096508/evidence?as_of=2026-10-24T22%3A41%3A02.075Z

Made

24 October 2026, 22:41 UTC