TIRANA, April 16 /ATA/ – The Competition Authority and the Financial Supervisory Authority on Friday signed a Memorandum of Understanding aimed at strengthening cooperation between the two institutions in order to protect consumers and investors by guaranteeing the market free competition under the supervision of AFSA.
The Memorandum of Understanding was signed by AFSA General Director Ervin Mete and the Head of the Competition Authority, Juliana Latifi.
The agreement provides for inter-institutional cooperation and coordination through the exchange of information, legal or regulatory acts, or arrangement of joint meetings in order to better regulate markets under the AFSA supervision.
The Memorandum of Cooperation, which renews the agreement signed in 2006 between the two watchdog institutions, sets clear terms on stronger coordination of actions and mutual support for free and effective competition in non-bank financial markets.
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