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Spain: With boost from Ministry, plan to split CNMC moves forward

By  |  January 3, 2017

Luis de Guindos, Spain’s Minister for the Economy, Industry and Competitiveness, has announced further negotiations with the PSOE party as they discuss an eventual breakup of the country’s competition and sector Superagency, the CNMC. The PSOE has called for other government branches and organisms to enter the negotiation, while also giving Parliament greater say in the matter.

The new model proposes the creation of two independent and equivalent agencies. María Fernández, the current Vice-President of the CNMC and current head of the Regulation Chamber at the organism has been touted as a prospective President of the new Sector Regulation agency, with the CNMC’s current president José María Marín remaining as head of Competition.

Both the PSOE and Ciudadanos parties have agreed on giving parliament a greater role, while also expanding the negotiations to include the CNMC’s fellow regulators such as the Bank of Spain, the FROB, CNMV (stock market regulators) and others.

Full Content: El País

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