# there is more speech, Prime Minister Ewa Kopacz #
13.04. Warsaw (PAP / PAP Legislation) – Prime Minister Ewa Kopacz announced that it has decided to strengthen the OCCP to quickly and effectively protect consumers in the financial market. This will be, among others, submitting zł 5 million from the budget reserve and the novella of the Act on Competition and Consumer Protection.
“I made the decision to strengthen the financial and institutional OCCP to quickly and effectively protect consumers in the financial market” – emphasized the Prime Minister, who participated on Monday in the jubilee session on the occasion of the 25th anniversary of the OCCP and operation of competition law in Poland.
“In recent years, the sector in which most consumers on the largest scale and were exposed to the adverse effects of entrepreneurs, was the financial services sector. (…) This is mainly due to the enormous asymmetry of information between consumers and institutions financial. Hiding risk, lack of reliable information and transparency of financial products led to massive sales of services not adapted to the real needs of customers, often exposing them to financial losses and years of struggle with debt trap “- explained the reasons for its decision.
According to the Prime Minister Kopacz consumer protection in this case is also connected with the protection of competition.
“The gigantic amounts that flow through the financial sector mean that unfair practices against consumers quickly translate into a competitive situation in the financial industry. Companies adhering to good manners and best practices often lose customers to companies ready to cut corners . It is bad for consumers, but it also creates a systemic risk, because the financial sector (…) is the bloodstream of the whole economy “- assessed.
For the next few days announced the signing of a decision to transfer the Office zł 5 million from the budget reserve to strengthen the protection of clients in the financial market, as well as referral for consultation the draft amendment of the Competition and Consumer Protection, which strengthens the protection of consumers of financial services. The Prime Minister also indicated that the government will take care of the bill for the insurance business, which was created in response to the problems caused by the so-called sales. investment policies. She remembered, too, that we are working on so-called. antylichwiarską Act regulates non-bank lending market.
In his speech, the head of the government also assessed the OCCP after 1989 played a key role in creating a social market economy, oriented primarily on consumer welfare.
“25 years ago, it would seem that it is enough only to free the economy from the straitjacket of central planning, and the free market and competition will lead to the same general welfare. A few (…) knew that this was unfortunately not enough, that the state must actively create space for the market and entrepreneurship, through de-monopolisation and active, based on hard law, protection of fair competition policy “- noted.
According to the Prime Minister on the example of the OCCP, from the perspective of 25 years, you can see how important it was at the beginning of the Polish transformation to create a network of institutions, without which modern democracy, based on the free market and to respect civil rights and consumer, could not function properly.
The head of the government said, moreover, that the Authority is well regarded by both citizens and businesses. She added that the research shows that the Authority is evaluated as needed, reliable and honest. “It is thanks to you was in Poland the first law on counteracting monopolistic practices and the principles of fair competition have become part of the economic and legal order” – asked the congregation.
“In my opinion, the existence of this order from the very beginning of the transformation is one of the main reasons why the Polish economy proved to be a dynamic and increasingly competitive global market. For the creators of Office from the beginning it was clear that it is for consumers ie citizens, to be the beneficiaries of competition between entrepreneurs, and that interference of the Office should take into account not only the abstract economic benefits, but also – or especially – consumer welfare “- stressed Kopacz.
That the head of the government’s draft amendment of the Act on Competition and Consumer Protection is primarily to enable faster response to anomalies emerging market for financial services. It is about offering products in a misleading way or situations where the product is not adapted to the capabilities and the needs of the customer – the so-called. misselling.
Another indicated dot design. Act on Insurance and Reinsurance, and aims to align the obligations of insurers to EU regulations concerning, inter alia, their solvency. The changes are also provide greater protection for clients of insurance companies through, inter alia increasing the disclosure requirements of insurers.
The last of the regulation – the draft amendment of the Act on Financial Market Supervision, Banking Law and other laws – the so-called project. antylichwiarskiego law has, among others, curb usurious interest charged by the loan companies.
Office of Competition and Consumer Protection was established in 1990 as the Antimonopoly Office. After the political upheaval in 1989, when the economy is based on free market mechanisms, February 24, 1990 a law was passed on counteracting monopolistic practices.
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