Slovenia’s Agency for Communication Networks and Services (AKOS) has expressed serious concerns about a draft law on Publics Agency for Financial Markets.
In a statement, it says that the draft law will have a significant impact on the powers and functioning of the Agency and has criticised the fact that it has not been made aware of the law being drafted until the last moment. Indeed, it had only one day to submit comments on legislation which it normally would have played a part in drafting.
AKOS notes that the legislation is in conflict with several European directives that emphasise independence, or maximising the independence of, the agency from the founder, with independence relating to funding as well as organisation and internal procedures. Part of the directive in the field of electronic communications and the directive on audiovisual media services also prohibits changing the conditions of the director of the agency during the term of office or to terminate it due to organisational change.
AKOS also says the legislation does not make clear where the Public Agency for the Market and Consumers will be located and indeed its structure. In other comments, AKOS points out that it is already one of the largest regulators in Europe in terms of areas of work, as it covers as many as five content areas: electronic communications, radiocommunications, post, electronic media and railways, and is the fourth smallest regulator. Five areas are also the largest number of different areas covered by regulatory authorities in EU countries. An agency with as many as nine areas, as envisaged in the draft law, would thus represent a significant departure from practices in Europe.
