Slovenian authorities hit exhausting as regulator merger rejected – EURACTIV.com
The Slovenian authorities suffered a serious defeat in parliament as a a lot maligned merger of eight regulators into two mega-agencies was rejected by MPs, elevating additional doubts over its skill to push by robust new legal guidelines.
The invoice, which was rejected by 46 votes to 42, concerned the folding of six companies into one company for the market and shoppers. The brand new company would regulate the vitality and telecommunications markets, postal companies, media and audiovisual companies, and all types of transport, whereas additionally overseeing mergers and acquisitions, in addition to competitors and shopper safety. .
The Securities Market Company and the Insurance coverage Supervisory Company could be merged into a brand new public monetary markets company, which might additionally take over among the regulatory powers at present exercised by the central financial institution.
The federal government argued that the merger would consolidate the fragmented regulatory panorama and enhance effectivity. The opposition rejected the plan as an try to pay attention energy and undermine the independence of regulators.
The rejection got here regardless that the unique plan was toned down following warnings from regulators concerning the risks of mixing numerous regulatory duties underneath simply two roofs.
EU establishments have additionally weighed in, making it clear that even such a merger should not undermine regulatory autonomy and can’t be used as an excuse to terminate the boards of present regulators earlier than the tip of their time period, which the opposition noticed because the plan all through.