Those Sophisticated Europeans

I honestly thought this was a gag at first.  Those sophisticated Europeans, who are supposedly so much more protective of civil rights and privacy and the like than we neanderthals in the US, are requiring that Spanish executives register details of their sex life with the government:

SPANISH business leaders are being told they have to declare any illicit love affairs - to the stock market.

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"...

Company directors must also provide information about their wives or
husbands and family, but it is the idea of a "lovers' register" - in
which bosses could have to admit to having affairs or out themselves as
gay - which has sparked reactions ranging from disbelief to fury among
businessmen.

Ricard Fornesa, the president of the huge La Caixa savings bank, described the legislation as "laughable".

A spokesman for another leading Spanish financial house - who would
not be named - was outraged, saying: "If I had a lover, which I don't,
would they expect me to admit it? What next? I get a call from someone
who has found out saying "˜pay me money or I tell your wife'. It's
stupid and it's ludicrous."

I don't think this even requires comment.  Some of course will have nothing to do with it or will remain silent.  Knowing a few Spanish gentlemen, though, I wonder if there will be some who will have the tendency to exaggerate and tack on names.  I would be tempted to submit a list of all the wives of male Congressmen.  I guess I should start working on my submission in case this approach is adopted by the SEC.  Lets see now ... Paris Hilton, the Olsen twins, Laura Bush, Maria Shriver, Martha Stewart, Lassie, the Little Mermaid, ...

Hat tip to Overlawyered.