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New proposed regulations by CCI UPSC NOTE

 

  • Goal is to Increase transparency and hold tech giants accountable.

  • Method used by appointing independent agencies to monitor if companies follow through on their commitments made to the CCI.

  • Independent agencies includes Accounting firms, management consultancies, and individuals with relevant qualifications.

  • Responsibilities of agencies are to ensure companies comply with CCI orders, report any non-compliance, and maintain confidentiality.

  • Role of CCI here is to appoint, suspend, or terminate agencies based on performance. 

  • The CCI will retain the authority to suspend or terminate the engagement of these agencies if they fail to meet the stipulated standards

  • Court challenges to these decisions are not allowed.

  • The company seeking a settlement or making a commitment will pay the monitoring agency.

  • In cases where the application is filed under the Combination Regulations, or any other relevant regulation, the payment responsibility will lie with the appropriate person as directed by the CCI

  • This will ensure the financial burden does not fall on the regulatory body, but on the parties seeking settlement or commitment.

  • These proposed regulations signify a landmark shift in how regulatory compliance will be monitored in India for the tech sector.

  • CCI expects this will discourage tech companies from finding loopholes and ensure they follow the rules. 

  • This could set a standard for regulating the tech sector in India.

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Learnerz IAS | Concept oriented UPSC Classes in Malayalam: New proposed regulations by CCI UPSC NOTE
New proposed regulations by CCI UPSC NOTE
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https://lh7-us.googleusercontent.com/slidesz/AGV_vUcSv-rGKtNRDcNulty2B_Uj9jXRmgFaoD2-YDjjoPazwQ7ElQ_MFNKs5tdBRX4JLBBDEoKXAXw55QZwA1Yppf-W-J5axZemajTuEN8YzudJq6AU4ohLePvgpD44NKNHD--o-N4HM_ft_2kTwIRPIr0Ib3I7XHpk88YnOqq1R20wqTmZmLkqw1A=s72-c?key=1xQcueXhUOa4eyW5OBYcWg
Learnerz IAS | Concept oriented UPSC Classes in Malayalam
https://www.learnerz.in/2024/06/new-proposed-regulations-by-cci-upsc.html
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https://www.learnerz.in/2024/06/new-proposed-regulations-by-cci-upsc.html
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