A. LEGISLATION, TRENDS AND TENDENCIES A.1 Arbitration Functions of the National Markets and Competition Commission Law 13/2013 of 4 June created the National Markets and Competition Commission (NMCC), with the purpose of ensuring, preserving and promoting the proper functioning, transparency and existence of effective competition in all markets and sectors. The NMCC replaces the various existing agencies in regulated sectors (e.g., energy, communications, post). One of the NMCC’s functions, among others, is to operate as a private arbitral institution for these regulated sectors. Although the NMCC’s specific regulations have not yet been approved, arbitration proceedings brought before this institution are governed by the essential principles of adversarial procedure, freedom of evidence and equality, and are subject to UNCITRAL arbitration rules. A specific and separate procedural regulation will be approved by the Government shortly.