Shawn Cumberbatch
This pole is one of many that fell during the passage of Hurricane Elsa. (Picture by Jameel Springer) Social Share
The Fair Trading Commission (FTC) has put Barbados’ companies and service providers on notice.
These entities are being warned that they could face civil and criminal court action as the FTC intensifies efforts to protect consumers and ensure there is fair competition.
While the
Fair Competition Act and Consumer Protection Act legislate the type of measures the regulator can take, effective August 1 it will also be implementing a new
Enforcement Policy For Fair Competition And Consumer Protection Matters.
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New Consumer Act to the rescue
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By the authority vested in me as President by the Constitution and the laws of the United States of America, and in order to promote the interests of American workers, businesses, and consumers, it is hereby ordered as follows:
Section 1. Policy.
A fair, open, and competitive marketplace has long been a cornerstone of the American economy, while excessive market concentration threatens basic economic liberties, democratic accountability, and the welfare of workers, farmers, small businesses, startups, and consumers.
The American promise of a broad and sustained prosperity depends on an open and competitive economy. For workers, a competitive marketplace creates more high-quality jobs and the economic freedom to switch jobs or negotiate a higher wage. For small businesses and farmers, it creates more choices among suppliers and major buyers, leading to more take-home income, which they can reinvest in their enterprises. For entrepreneurs, it provides