When a few maid agencies get together to agree on the salary for maids, the Competition Commission in Singapore came hard down on them for infringing the competition law. I wonder if action is being taken against the small businesses that cannot afford expensive lawyers to fight their case. I also wonder if the illegal practices are being following by big businesses that have a much bigger impact on consumers.
Read this story about the call by the law makers in USA to ask the Attorney General to investigate the practice of the banks. Maybe our law makers and regulators in Singapore can also be more active in looking after the interest of the people, so that the cost of living (which touches the pockets of all Singaporeans) can be moderated?
Read this story about the call by the law makers in USA to ask the Attorney General to investigate the practice of the banks. Maybe our law makers and regulators in Singapore can also be more active in looking after the interest of the people, so that the cost of living (which touches the pockets of all Singaporeans) can be moderated?
Somebody may want to verify my memory of events.
ReplyDeleteBut if I remember correctly, when Competition Law and the Fair Trading Act were introduced, the financial & insurance industries were exempted for the first few years to give them more time to comply.
If I remembered correctly, what does this tell us?