Madrid, 9 September 2020
- The law firm and the association have joined forces to develop initiatives aimed at enhancing Spain's Fintech and InsurTech ecosystem.
- CMS will provide advisory services to the association and its partners.
Spain-based international law firm CMS Albiñana & Suárez de Lezo (CMS Spain) and the Spanish FinTech and InsurTech Association (AEFI) have signed a collaboration agreement under which the firm is recognised as one of the association's official legal partners and will provide advisory services and liaison, communication and collaboration with the relevant bodies and players in a bid to enhance the FinTech and InsurTech ecosystem in Spain.
Renowned firm CMS is home to a specialist insurance and innovation team led by Jaime Bofill, a long-term associate of the AEFI with a strong track record advising both Spanish and foreign insurance companies. The team boasts years of experience in the areas of FinTech and InsurTech, and will work alongside the association to continue their joint efforts on managing regulatory development and the definitive roll-out of the sandbox in Spain.
According to AEFI Chairman Rodrigo García de la Cruz, "we are delighted to be able to collaborate with one of Spain's most renowned and prestigious firms, most notably their insurance and innovation practice. This latest link-up will enable us to work together to bridge the gaps in the development of the FinTech and InsurTech ecosystem in Spain, as well as to encourage best practice and continue to make strides in the regulatory sphere".
In turn, CMS Spain Partner Jaime Bofill said "we are proud to support the AEFI's magnificent work and to be able to contribute to the development of such a fast-growing sector whose major players are working on some amazing projects and are well-placed to set future trends. We will strive to support the creation of a regulatory environment which boosts, incentivises and protects these companies".