On April 5, the Malta Competition and Consumer Affairs Authority (MCCAA) hosted a public seminar with the main aim of informing consumers and traders about their respective rights and responsibilities.
The seminar also focused on the four entities that the authority is composed of, namely the Office for Competition, the Office for Consumer Affairs, the Standards and Metrology Institute and the Technical Regulations Division, and the services these offer to consumers and traders.
This was the first in a series of five seminars the authority will be organising in the coming months as part of the Consumer Awareness Campaign, partly financed by the European Social Fund.
Minister for Social Dialogue, Consumer Affairs and Civil Liberties Helena Dalli opened the seminar. Dr Dalli said the Government would appoint an Ombudsman who will have the responsibility to investigate complaints by investors and disputes between investors and financial institutions.
Dr Dalli also said the Government would be introducing a charter to serve as a guide to safeguard the interests of individual investors, especially those who are inexperienced and vulnerable.
Another charter would be introduced to see to the rights of those clients who use bank services. The main objective of this charter would be that of assisting consumers using bank services to avoid abuses related to hidden charges and to provide clear information for clients taking a loan.
Dr Dalli mentioned the work and initiatives undertaken by the authority and said the Government would continue building on the good work carried out so far. She also said the authority needed to increase its human resources to improve its operation, especially with regard to market research and surveillance.
She stressed the importance of building a relationship based on trust between consumers and sellers. The MCCAA has, in fact, created the Trust You scheme, specifically set up to enhance better relationships between consumers and traders.
Through this scheme, the authority aims to promote trading practices that are beneficial to both consumers and traders. Dr Dalli said the Government encouraged such practices for traders to be closer to consumers. The authority will shortly be setting up information kiosks in local commercial centres.