Spanish Sicavs in the eye of the hurricane

Spanish government latest proposal to transfer the supervision of Sicavs back to the Treasury is causing a stir in the local fund industry. The Spanish executive recently announced plans to return the control of Sicavs to the Ministry of the Treasury, 14 years after this was granted in exclusivity to the National Securities Market Commission (CNMV). The measure was included in the government's budget plan for 2019 which was defeated in Parliament on 14 of January, forcing the Spanish president Pedro Sánchez to call a snap election for the 28 of April. Should the proposal finally be...