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Título de Especialista en Cumplimiento Normativo de los Mercados Financieros

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  • Título de Especialista en Cumplimiento Normativo de los Mercados Financieros

School of Continuing Education

Imagen del Campus de Getafe
Prof. Dr. D. David Ramos Muñoz
Deputy Direction
Prof. Dr. D. Manuel Alba Fenández
De enero a abril
Madrid - Puerta de Toledo

Abierto Plazo curso 2019/20: Hasta el 1 de diciembre de 2019

Instituto Pascual Madoz del Territorio, Urbanismo y Medio Ambiente

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    The Course of Specialist in Regulatory Compliance in Financial Markets is offered by the Carlos III University in cooperation with Bolsas y Mercados Españoles (BME). This responds to a real demand in the job market for professionals with the profile and training suitable for the performance of specific tasks prescribed by law.

    Why now? Especially in the aftermath of the latest financial crisis, legislation in the field of financial market has acquired an extraordinary complexity and level of detail, which has forced banks to create a post ( so- called  compliance officer ) whose responsibility is precisely to ensure the fulfillment of all obligations that financial regulation imposes on financial markets and intermediaries. 

    For this reason, all the entities are demanding this type of service, so much so that the specialized training in compliance has become even more important than the general training of undergraduate or postgraduate studies.

    How?  The program developed for this Specialist Course has been specifically designed to provide the necessary training to work as  a compliance officerIts contents are conceived to be rigorously, but also very practical. The participation of Bolsas y Mercados Españoles in the organization of the course permits to count on experienced professionals to have the best pool of teachers.

    How-When?  The course, mainly based on the case study method is compatible with any graduate program at the Carlos III University of Madrid, and will be taught from the academic year 2018-2019 in the afternoon (two  days per week), from January 10 to April 22.

    Especialista Compliance UC3M

    1.- MÓDULO I. INTRODUCCIÓN (10 horas)

    • Estructura y funcionamiento general de los mercados financieros
    • Patologías del sistema (I). Fuentes de inestabilidad y crisis financiera
    • Patologías del sistema (II). Malas prácticas
    • Corrección de la inestabilidad y malas prácticas: modelos normativos
    • El panorama supervisor y normativo europeo y sus normas de conducta
    • La función de compliance.


    • Mercados financieros: herramientas y conceptos básicos: matemática y estadística financiera básicas, mecanismos de fijación de precio, acciones, deuda y opciones
    • La prestación de servicios en relación con una oferta inicial  
    • El seguimiento de la actividad de negociación. Capital y deuda. Mercados, plataformas, e internalización, transparencia y abuso de mercado
    • El seguimiento de la actividad de negociación. Derivados. Opciones, futuros, productos de cobertura, y productos avanzados. Normas de transparencia y abuso de mercado
    • Derivados de crédito, repos y ‘colateral’. Riesgo de contraparte, cobertura y colateral, EMIR y MiFID. Los repos.
    • Titulización y productos estructurados. Construcción y valoración y mercados
    • La post-contratación. Panorama regulatorio, la Entidad de Contrapartida Central (ECC) y la compensación, el Depositario Central de Valores (DCV) y la liquidación, transacciones OTC y aspectos transfronterizos



    • El inicio y expansión de la actividad de servicios financieros. Reserva de actividad, ESIs y su autorización, nuevos intermediarios y Fin – Tech, shadow banking
    • Las bases de la relación con el cliente. Tipologías, obligaciones de custodia, evaluación y tratamiento de datos
    • Normativa de inversiones exteriores, tributaria y de blanqueo de capitales
    • Diseño y comercialización de productos financieros. Aspectos esenciales, transparencia, productos de capital, deuda e híbridos, productos de crédito, productos derivados, productos basados en seguros y comercialización transfronteriza
    • Diseño y comercialización de productos financieros: productos complejos e inversión colectiva
    • Productos de inversión alternativa e inversión inmobiliaria



    • La calificación de las conductas. Infracciones en materia de transparencia y abuso de mercado (información privilegiada y manipulación de mercado) custodia y conflictos de interés, diseño y comercialización de productos y blanqueo de capitales
    • La instrucción del procedimiento interno. Encaje organizativo, instrucción, y adopción de decisiones
    • El procedimiento administrativo y sus sanciones. Inicio e instrucción, la función de compliance y la Administración, finalización, sanciones y recursos
    • Responsabilidad penal. Personas físicas y jurídicas, tipos penales relevantes (transparencia, abuso de mercado, deberes tributarios y de blanqueo de capitales), procedimiento penal y nebis in ídem

    > Programa Extendido


    Profesorado UC3M:

    • Tomás de la Quadra Salcedo y Fernández del Castillo
      Derecho Público del Estado
      Profesor emérito de Derecho Administrativo
    • David Ramos Muñoz
      Derecho Privado
      Profesor de Derecho Mercantil
    • Fernando Zunzunegui Pastor
      Derecho Privado
      Profesor de Derecho Mercantil
    • Mikel Tapia Rodríguez
      Economía de la Empresa
      Profesor de Finanzas


    Profesorado de Instituciones y/o Empresas:

    • Francisco Javier Alonso
      Crédit Agricole
      Chief compliance officer
    • Enrique Castellanos
      Responsable de formación
    • Emilio Gamarra
    • Aránzazu Ullibarri
    • María Gracia Rubio
      Socia fundadora - Rubio de Casas
    • David Espejo
      Expert Witness
    • Rafael Hurtado
      Responsable de inversiones de Allianz Popular
    • Pablo Tauler
      CNMV – Sección de Contencioso
    • Juan Toro 
      Arfima Financial Solutions
    • Gloria Hernández
      Socia FinReg 360
    • Patricia Gabeiras

      Places offered: 25



      Graduates or equivalent.


      Student Profile

      The title of Specialist in Regulatory Compliance in Financial Markets is targeted at graduates in Law or Business Administration and Management (ADE) who want to acquire theoretical and practical knowledge of financial markets and their regulatory framework, but especially financial sector professionals (managers, bank employees responsible for risk departments ESIS) that need to adapt their organizations to the new legal framework. It should be recalled that MiFID and the rules implementing it (LMV, RD 217/2008) require a clear organizational and functional differentiation between risk units, audit and regulatory compliance in order to prevent conflicts of interest between different departments. Therefore, the typical skills to form part of the risk department, for example, would not guarantee the necessary qualifications to be part of the compliance unit. Thus, the program is directed at professionals who are working or wish to work in the compliance department of financial institutions, designing, implementing and monitoring compliance plans, as well as people who wish to practice law or consulting related to financial institutions areas, or in supervisory bodies.



      It is necessary to have at least an undergraduate degree or equivalent as well as sufficient knowledge of English. The merit assessment criteria in the selection process are:

      • Academic record (4 points)
      • Resume (4 points)
      • Motivation, letters of recommendation and, if applicable, personal interview (2 points)

      Deadline for applications and admissions process

      Regular: The deadline for submitting applications is open until February, 9.

      Extended: If at the end of the period there were vacancies and the extra demand so justifies, the period will be extended. The request is made electronically through our application:

      Steps to make your application for admission


      Those interested should send:

      • Admission application
      • Motivation letter
      • Photocopy of Higher Studies Diploma, if applicable.
      • Academic record (set of subjects and grades obtained during titration)
      • Curriculum vitae
      • 2 letters of recommendation
      • 1 picture
      • Photocopy of identity card, passport or identity card



      Postgraduate Center 
      Campus Madrid Puerta Toledo
      Despacho 0.B.08
      Ronda de Toledo, 1
      28005 Madrid
      Tlf.: 91 624 9838

      Inquiries concerning the content of the course or other academic type can be addressed to the Director, Prof. David Ramos ( ) or the Deputy Director, Prof. Manuel Alba (malba @ der-pr. ).


      The registration fee for the Course on Regulatory Compliance in Financial Markets is 2,500 €

      The tuition program   will be split into several installments distributed as follows:

      • the first term, once it has been notified in writing admission, the student must transfer the amount of 1,000 €, as payment of the first installment and reservation.
      • the second installment, amounting to 1,500 €, before January 31

      Payment of the reservation fee is non-refundable unless for causes attributable to the University.


    The main objective of the specialist course in Regulatory Compliance in Financial Markets is to enable the student wo finishes the program to have the possibility to perform the role of compliance officer in credit institutions and / or companies Investment services, or to develop a consultancy work in this field.


    Duration and Schedule

    The title of Specialist in Regulatory Compliance with Financial Markets will be given at the Puerta de Toledo Campus, and at the BME facilities at the Palacio de la Bolsa, Thursday (BME) and Friday (UC3M - Puerta de Toledo Campus), in the afternoon, from 10 January to 12 April, and will last 100 hours in person.



    The main goal is to provide, from a European and national perspective, knowledge of the system of rules that affect the performance of the compliance function in financial institutions, including the rules governing the interaction with the customer, product marketing, trading, or trading, as well as data processing, money laundering and tax evasion.

    Lugar de impartición

    ☛ Campus Madrid Puerta de Toledo

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    Más información del Campus

    ☛ Instituto BME
        Plaza de la Lealtad, 1
        28014 Madrid

    Campus Madrid Puerta de Toledo UC3M