Maybe I dont know all the legal issues, but the ESMA is a regulator for all EU countries with headquarters in France. Those. full compliance with the rules of ESMA Spain is equivalent to the whole resolution of the ESMA at the European level?
Ofcourse. ESMA is the European Union securities authority. every country in the euro union is acting under their securities law. so every country have their broker dealers and validators with license to approve under the ESMA law