OECD workshop “regulatory barriers to competition in professional services: measurement and reform experience” 18-19 November 2021
OECD PMR INDICATORS FOR PROFESSIONAL SERVICES. ARE CIVIL LAW NOTARIES DIFFERENT? Consumer protection and nature of the notarial services Antonio Cappiello, Senior Economist cnn.acappiello@notariato.it International Office of the Consiglio Nazionale del Notariato
www.enn-rne.eu
DOWNSTREAM SECTORS
PRODUCTIVITY
PROFESSIONAL AS INTERMEDIATE INPUT
GROWTH
PURE COMPETITION? POSSIBLE MARKET FAILURE STATE INTERVENTION?
HOW? WHICH KIND OF RULES?
PUBLIC INTEREST FAIR FUNCTIONING CONSUMER PROTECTION
ENTRY BARRIERS PMR CONDUCT REGULATION
CONSEQUENCES OF CONSUMER SIDE? DEREGULATION? LEGAL CERTAINTY?
LESS RULES LESS LIMITATION
PROPER FUNCTIONING AND PUBLIC GOODS NO
ARE SOME OF THESE MAYBE/YES? CRITERIA A PROTECTION FOR ? Antonio Cappiello, CNN OECD PMR workshop on competition in professional services 18-19 Nov. 2021
6,00
6,00
y = -0,0026x + 5,1795 R² = 0,0177
5,50
5,00
PMR notaries
PMR notaries
5,50
4,50 4,00 3,50
y = -0,0043x + 5,1356 R² = 0,001
5,00 4,50
4,00 3,50
3,00
3,00 2,50 0,00
10,00
20,00
30,00
40,00
50,00
60,00
70,00
80,00
90,00
2,50 0,00
time - real estate transactions
2,00
4,00
6,00
8,00
10,00
12,00
14,00
16,00
procedures real estate transactions
6,00
6,00
y = 0,0037x + 5,0331 R² = 0,0037
5,50
5,50 5,00
PMR notaries
PMR notaries
5,00 4,50 4,00
4,50 4,00
3,50
3,50
3,00
3,00
2,50 0,00
5,00
10,00
15,00
20,00
quality real estae transactions
Antonio Cappiello, CNN
25,00
30,00
2,50 0,00
2,00
4,00
6,00
8,00
10,00
12,00
14,00
16,00
costs real estate transactions
OECD PMR workshop on competition in professional services 18-19 Nov. 2021
Level of regulation NOTARIES >>> Level of regulation NOTARIES >>>
12,0 10,0
Countries with Notaries in RE: Better AML compliance
8,0 6,0
Cost for the consumer >>>
4,0 2,0 0,0
UINL
CNUE
Other countries
std
2,6
1,9
4,4
avg_AML
7,9
9,8
4,8
median_AML
8,0
10,0
5,0
median _IO_N
6,0
7,0
4,0
median_R_N
2,0
3,0
0,0
Compliance AML >>>
Antonio Cappiello, CNN
OECD PMR workshop on competition in professional services 18-19 Nov. 2021
what role for professional bodies?
1
OECD report PMR indicator From the OECD report 2014: “ To ease administrative burdens and facilitate entry in network and services sectors, countries could for instance ….abolish chamber membership requirements and reduce the number of exclusive rights of professions ..in particular in the legal (including notaries) and accounting professions”
2
Statements from the FATF/RBA Guidance for Professionals (including NOTARIES)
Need of “Procedures that ensure the system for licensing lawyers/notaries prevents criminal from becoming lawyers/notaries” “it is each country responsibility to ensure there is an adequate national framework in place in relation to regulation and supervision of legal professionals (notaries included)” Antonio Cappiello, CNN
OECD PMR workshop on competition in professional services 18-19 Nov. 2021
context Why? How?
reconsider? tool? PMR? One fits all?
verification OK Antonio Cappiello, CNN
BIASES? OECD PMR workshop on competition in professional services 18-19 Nov. 2021
THANKS OECD workshop “regulatory barriers to competition in professional services: measurement and reform experience” 18-19 November 2021
OECD PMR INDICATORS FOR PROFESSIONAL SERVICES. ARE CIVIL LAW NOTARIES DIFFERENT? Consumer protection and nature of the notarial services Antonio Cappiello, Senior Economist cnn.acappiello@notariato.it International Office of the Consiglio Nazionale del Notariato
www.enn-rne.eu