Following the creation of the National Markets and Competition Commission (“NMCC”), the Council of Ministers has approved the Basic Statute of the new super-regulator. This is another step in the structural reform, bringing together various regulatory and supervisory bodies into a single institution.
The Statute regulates the internal organisation of the NMCC. Its main aim is to ensure that the institution’s performance meets the principles of efficacy, efficiency, rationalisation, objectivity and transparency. To achieve this, the tasks and responsibilities of the internal units have been clearly defined and new ways of coordination and cooperation have been introduced. Moreover, a strict control system has been established over hiring procedures, budget preparation and implementation and asset management.
The NMCC will have its headquarters in Madrid and the Telecommunications and Audiovisual Sector Directorate will be located in Barcelona.
After the approval of the Statute, the Congress decided who would be the members of the first Council of the NMCC. The Council will be chaired by Mr. José María Marín Quemada, who will also chair the Competition Chamber. The vice-president of the Council and the president of the Regulatory Supervision Chamber will be Ms. María Fernández Pérez. Eight other members, with a technical profile, will complete the Council and form the two Chambers.
Following these appointments, the most optimistic forecasts suggest that the NMCC could start operating in October. Only the constitution of the Council and the approval of its internal rules of procedure are pending.