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Spain: New Gov. begins regulator reshuffle

By  |  November 15, 2016

Spain’s new government, formed barely a week ago under President Mariano Rajoy, has started tackling the backlog of decisions and processes left after a year-long power vacuum by renewing and reshuffling the top levels of the country’s market regulators: the CNMC (Markets and Competition), CNMV (Stock Market) and the Bank of Spain.

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    The CNMC has formally addressed the Ministry for Economy, Industry and Competition to remind them of the pending renewal of several councillors whose mandate has expired: Councillors María Ortíz, Eduardo García Matilla and Diego Rodríguez have been working as interim councillors since September 2015.

    A proposal to split the CNMC into separate ex ante and ex post regulators, presented by the now-ruling PP and Ciudadanos coalition, appears to have been shelved, with the ‘Superregulator’ being given a new chance to present results under a renewed council.

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