Page 52 - ITU-T Focus Group Digital Financial Services – Recommendations

ITU-T Focus Group Digital Financial Services
Recommendations

Title of recommendation Regulatory collaboration
Working Group Technology, Innovation and Competition

Workstream Competition
Audience for recommendation Member States and regulators in the DFS ecosystem

To ensure effective implementation of competition law, governments should clearly define which authority(ies)
is/are responsible for which specific competition law issues. Where a competition authority co-exists with sector
regulators who also have competition competence, all regulators should coordinate jurisdiction and competence
between themselves, potentially through formalized MOUs. Where there is no established competition author-
ity, other domestic sector-specific regulators, either on a national or regional level, should be empowered and
encouraged to lead and define a coordinated way forward on competition issues.

Given that DFS are cross-industry products, it is not always clearly defined who the competent authority(ties)
is/are for completion law issues, which can create jurisdictional conflicts between authorities, result in double
jeopardy for regulated firms, and incentivize forum shopping.
Collaboration on a national level may also include the creation of a national forum to discuss a coordinated
strategy, if such collaboration is not prescribed in the legislation itself. The key to such coordination will be the
2
will of stronger, more established authorities, such as central banks, to support those who are still developing
their capacity, such as recently established competition authorities. 3

Further, given that useful lessons can be gleamed from the experience of other countries as well, especially
for countries with a nascent competition culture, participation by regulators in international forums should
be a corollary priority.

Where such regional blocs (such as COMESA) have antitrust or merger control provisions, it should be noted
that close coordination with national authorities with overlapping jurisdiction should be ensured to prevent
jurisdictional conflicts.
4

2 Sitbon (2015) ibid
3 As was the case in Kenya. See Mazer and Rowan (2016)
4 Sitbon (2015) ibid

46