One of the most important institutional initiatives in recent years for the functioning of the market and consumer protection is entering its final stretch. The Ministry of Development‘s draft law, which was put out for public consultation until 11 November, attempts to formulate a single supervisory framework, linking regulation, control, and competition under a common operating umbrella. It is essentially a new market architecture that aspires to ensure fair conditions of competition, greater price transparency, and more effective consumer protection.

At the heart of the bill are two pillars: the establishment of the Independent Authority for Market Supervision and Consumer Protection and the upgrading of the Competition Commission. These two institutional interventions, which operate in a complementary manner, aim to create a modern and functional model of supervision that meets the needs of a market that is evolving, digitising, and concentrating at a rapid pace.

The new Authority

As Business Stories revealed last summer, the bill envisages the creation of an Independent Market and Consumer Protection Authority, with legal personality and full operational, administrative, and financial autonomy, following the model of the AADE. The Authority is institutionally subordinate to the Parliament and not directly to the government, which differentiates it from the control bodies of the Ministry of Development.

In practice, it brings together in a single body the Interdepartmental Market Control Unit (DIMEA), the Consumer Protection Directorate, and the Consumer Advocate, which ceases to function as an autonomous authority but maintains a distinct functional unit within it. The new structure, according to reliable sources, will be staffed with about 300 auditors, who will come from the integrated entities, and may be reinforced by secondments or new recruitments.

The authority will be responsible for supervising the market for goods and services, detecting and combating illegal and unfair practices, controlling online shopping, and protecting consumers from misleading or unfair commercial practices. It will also have an out-of-court dispute resolution mechanism and will be able to bring representative actions for breaches of consumer legislation.

An important innovation is the provision for a digital monitoring and data collection system – a tool that will allow for continuous monitoring of prices, promotions, and complaints, essentially creating a “market watch” with analytical capabilities. Its operation will be based on targeting and performance evaluation, and it will be able to set up mixed control teams with other public sector bodies, such as the ADA or the ELAS.