A PYMNTS Company

Spain: CNMC may to turn to Brussels to prevent split-up

By  |  November 22, 2016

Sources close to Spanish competition agency CNMC have said the agency would be willing to appeal to Brussels in order to prevent a possible split-up of the institution into two separate agencies, a move proposed by the new PP and Ciudadanos governing coalition. Jose María Marín, president of the CNMC, has said he will not defy any decision taken by Parliament, but until this happens the agency will continue to defend their position, arguing for the greater efficiency and independence made possible by a fully-empowered and coordinated markets and competition regulator.

    Get the Full Story

    Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

    Subscribe to our daily newsletter, PYMNTS Today.

    By completing this form, you agree to receive marketing communications from PYMNTS and to the sharing of your information with our sponsor, if applicable, in accordance with our Privacy Policy and Terms and Conditions.

    “Of course we’ll appeal to Brussels. Whether we get it is another matter, but we will try.” said the source, discussing the possibility of the CNMC being divided into separate Competition/Consumer Protection and Market Regulator agencies.

    Brussels has had a complicated relationship with the CNMC since its creation in 2013. The European authorities object not to the concentration of power within the organism, but rather complain that many of its previous responsibilities have been absorbed by other ministries, effectively reducing (in their opinion) the autonomy and independence of the agency. The CE has filed various motions against Spain over the matter.

    Full Content: Expansión

    Want more news? Subscribe to CPI’s free daily newsletter for more headlines and updates on antitrust developments around the world.