RA Launches Initiatives To Protect Consumers

The Regulatory Authority of Bermuda has announced the implementation of Principles of Consumer Protection and Market Review, with both initiatives aimed at “increasing protection for consumers.”

A spokesperson said, “The Regulatory Authority today announced the implementation of two new sets of standards to increase protection for consumers in both the electronic communications and electricity sectors. They are the Principles of Consumer Protection [Consumer Protection] and Market Review.

“Each initiative provides increased structure and accountability for providers and gives consumers clear guidelines about their roles and responsibilities when interacting with their provider.

“Specifically, Consumer Protection ensures a single point of reference to protect consumers’ interests, promote the delivery of high-quality services and products and encourage best practices in both sectors. That includes:

• Clear marketing and honest advertising,
• The right to cancel a contract within two weeks if unsatisfied with service[s], and
• Fair treatment and access for Vulnerable Persons

“The Market Review offers a further degree of protection for consumers in the electronic communications sector by promoting a regulatory environment where positive consumer developments are sustainable and enforceable.”

The RA’s Head of Regulation, Jozelle Opoku, said, “As a regulator, we are keenly focused on ensuring that the rights of consumers are protected.

“That includes holding sectoral providers to the highest standards, ensuring that they are licenced to deliver products and services, and that they offer prices that are fair and reasonable.”

To view the Principles of Consumer Protection and the Market Review, visit the RA’s website.

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Category: All, Business