Competition law and the Malaysian financial services market: an analysis of the structure and level of competition in the market

Rahman, Nasarudin Abdul; Faudzi, Mohd Hasbullah Mohamad; Ahamat, Haniff; Ghadas, Zuhairah Ariff Abd

doi:10.1504/ijmef.2016.080078

Cited by 1 publication

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“…Compared to the approach adopted by the UK, they allow the traders to include all relevant information, including the existence of the products (either goods or services), the ingredients of the product, the address and identity of the sellers, the price of the products and the payment method, etc. Providing essential information of the products available in the market could be amongst the best initiatives for assisting the consumers in making reliable and relevant purchasing decisions and becoming an informed consumer as targeted by the National Consumer Policy (NCP) 2002 and Consumer Master Plan (CMP) 2003-2013. There is proof to say in certain circumstances, sellers, traders and manufacturers are in more dominant possession of information about their products and services (Rahman et al, 2016). As a step to prevent the sellers, traders and manufacturers from hiding any necessary information from the consumers' knowledge, the law should regulate the sellers, traders and manufacturers to provide essential information in clear, legible, understandable, and in appropriate form to the consumers.…”

Section: Consumer Protection Act (Cpa) 1999 and Information Provision At The Pre-contractual Stagementioning

confidence: 99%

Information Regulation: A Measure of Consumer Protection

Ghapa¹,

Kadir²

2021

JSSH

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Consumers have been identified as one of the drivers of economic development in Malaysia. They come from different educational levels, age, geographical area and economic status. All of those discrepancies pose several problems, and the most significant issue is the possible information vulnerability where it affects consumer decision-making. Consequently, when wrong decisions are made, they can incur substantial financial and emotional losses. It is therefore necessary to analyse the most appropriate mechanism for safeguarding Malaysian consumers from any potential knowledge vulnerabilities that could compromise their interests. Accordingly, this paper will scrutinize the theory of information regulation as a mechanism to mitigate consumer disadvantage and fix Malaysian consumers’ knowledge vulnerability by analysing the existing academic literature on the theory of information regulation as a specific tool to protect consumers’ interests in Malaysia. This specific approach of regulation which requires all the essential information concerning a particular product to be provided by the sellers, traders, producers and manufacturers at the pre-purchase phase is hoped to be the best protection measure for consumers in Malaysia.

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Section: Consumer Protection Act (Cpa) 1999 and Information Provision At The Pre-contractual Stagementioning

confidence: 99%