{"id":133725,"date":"2023-11-01T17:06:00","date_gmt":"2023-11-01T22:06:00","guid":{"rendered":"https:\/\/selasite.azurewebsites.net\/?post_type=agenda&p=133725"},"modified":"2024-01-26T20:41:29","modified_gmt":"2024-01-27T01:41:29","slug":"xi-meeting-of-the-working-group-on-trade-and-competition-in-latin-america-and-the-caribbean-wgtc","status":"publish","type":"agenda","link":"https:\/\/rmtsolutions.net\/sela\/en\/agenda\/xi-meeting-of-the-working-group-on-trade-and-competition-in-latin-america-and-the-caribbean-wgtc\/","title":{"rendered":"XI Meeting of the Working Group on Trade and Competition in Latin America and the Caribbean (WGTC)"},"content":{"rendered":"
\n
\n \n Background <\/span>\n <\/div>\n
\n
\n

The Working Group on Trade and Competition in Latin America and the Caribbean (WGTC) is a regional forum of trade and competition authorities, created in 2010, for regional cooperation, consultation and coordination in areas of common interest in both areas. Its organisation and operation are mainly under the responsibility of the Permanent Secretariat of SELA and the General Secretariat of UNCTAD, in their capacity as Executive Secretariat and Technical Secretariat, respectively.<\/p>\n

The various meetings of the WGTC have addressed a variety of topics in order to consider views and experiences on, inter alia: trade integration; public procurement; energy and hydrocarbon markets; institutional capacity building; competition policy in the telecommunications sector; the benefits of competition policy in the provision of goods and services; the promotion of small and medium-sized enterprises (SMEs); trade facilitation; intellectual property; harmonisation and convergence in regulatory frameworks; and port infrastructure and services.<\/p>\n

On this occasion, the members of the group, representatives of the region’s trade and competition bodies, decided to focus the discussion on the\u00a0Fintech<\/em>\u00a0financial sector. This is due to the fact that regulatory, competition and trade policies are fundamental elements for the development and proper functioning of financial markets, especially in the field of financial technologies in Latin America and the Caribbean (LAC). Such policies pursue the following objectives: to promote stability, transparency and efficiency in these markets; to foster innovation and to protect consumers.<\/p>\n

In recent years, the\u00a0Fintech<\/em>\u00a0sector has experienced significant growth in LAC, driven by technological advances and changes in consumer preferences. These companies use technology to offer financial services in a more accessible, faster and more efficient way, which has created new opportunities for financial inclusion in the region. However, due to their disruptive and often cross-border nature,\u00a0Fintechs<\/em>\u00a0also pose regulatory challenges. Governments and regulators in LAC have had to adapt their regulatory frameworks to address these new forms of financial intermediation and ensure the stability of the financial system.<\/p>\n

In terms of regulatory policies, one of the main challenges is to find a balance between fostering innovation and protecting consumers. On the one hand, it is important to allow\u00a0Fintechs<\/em>\u00a0to develop new products and services that can improve the efficiency and accessibility of the financial system. On the other hand, it is also necessary to establish supervision and control mechanisms to avoid abusive or fraudulent practices.<\/p>\n

In this regard, many LAC countries have implemented specific regulatory frameworks for\u00a0Fintech<\/em>\u00a0and have established specialised regulatory agencies to oversee and regulate this sector more effectively. These frameworks usually include licensing requirements, conduct of business rules, cybersecurity measures and consumer protection. In addition to regulatory policies, competition policies also play an important role in the development of\u00a0Fintech<\/em>\u00a0financial markets in Latin America and the Caribbean. Effective competition is essential to ensure that consumers have access to a wide range of financial products and services at competitive prices. To promote competition, it is necessary to remove unjustified barriers to entry, encourage interoperability between different providers and promote transparency of prices and conditions of financial services.<\/p>\n

In terms of trade policies, it should be noted that many\u00a0Fintechs<\/em>\u00a0operate at a regional or even global level. Therefore, it is essential to have regulatory frameworks that facilitate cross-border trade and promote cooperation between the different countries in the region. This implies harmonising regulations and technical standards, as well as establishing efficient dispute resolution mechanisms.<\/p>\n

In short, regulatory, competition and trade policies are critical for the development and proper functioning of\u00a0Fintech<\/em>\u00a0financial markets in Latin America and the Caribbean. These policies seek to promote stability, transparency and efficiency in these markets, while fostering innovation and protecting consumers. Governments and regulators in the region have implemented specific regulatory frameworks to address the challenges posed by\u00a0Fintech<\/em>, seeking to strike a balance between fostering innovation and protecting consumers.<\/p>\n <\/div>\n <\/div>\n\n\n

\n
\n \n Objectives <\/span>\n <\/div>\n
\n
\n
    \n
  1. To present an overview of the post-pandemic trade and regulation of\u00a0Fintech<\/em>\u00a0technology markets in the region and their importance for improving the efficiency of the financial system and promoting greater inclusiveness.<\/li>\n
  2. To identify the strengths and weaknesses facing the region with a view to enhancing the\u00a0Fintech<\/em>\u00a0financial system.<\/li>\n
  3. To provide a space for discussion and learning from best practices in\u00a0Fintech<\/em>\u00a0regulation and the promotion of inclusive trade.<\/li>\n<\/ol>\n <\/div>\n <\/div>\n\n\n
    \n
    \n \n Participants <\/span>\n <\/div>\n
    \n
    \n

    This activity is aimed at focal points in the area of trade and competition of the Member States of SELA, international organisations, experts in this area and special guests.<\/p>\n <\/div>\n <\/div>\n\n\n

    \n
    \n \n Logistical aspects <\/span>\n <\/div>\n
    \n
    \n
      \n
    • Language:<\/strong>\u00a0Spanish<\/li>\n
    • Venue:<\/strong>\u00a0Santo Domingo, Dominican Republic.<\/li>\n
    • Address:<\/strong>\u00a0Hotel Catalonia Santo Domingo, Avenida 500 George Washington.<\/li>\n
    • Date:<\/strong>\u00a02 and 3 November 2023.<\/li>\n<\/ul>\n <\/div>\n <\/div>\n\n\n
      \n
      \n \n Agenda <\/span>\n <\/div>\n
      \n
      \n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
      Thursday 2 November 2023<\/strong><\/td>\n<\/tr>\n
      Morning<\/strong><\/td>\n<\/tr>\n
      08:30 \u2013 09:00<\/td>\nOpening session<\/strong><\/p>\n
        \n
      • ProCompetencia. Mar\u00eda Elena V\u00e1squez<\/strong>, Chair of the Board of Directors, Dominican Republic.<\/li>\n
      • SELA. Clarems Endara<\/strong>, Permanent Secretary of the Latin American and Caribbean Economic System.<\/li>\n
      • UNCTAD. Juan Luis Crucelegui<\/strong>, Chief of Capacity Building and Advisory Services, Department of Competition and Consumer Policies.<\/li>\n
      • Authorities of the Dominican Republic.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      09:00 \u2013 09:10<\/td>\nOfficial photo of the event.<\/strong><\/td>\n<\/tr>\n
      09:10 \u2013 10:50<\/td>\nSession I.\u00a0Overview of the Fintech industry and its global impact on financial services markets. Importance of trade and competition to ensure fair and efficient markets.<\/strong><\/p>\n

      Moderator: Dominican Republic.<\/strong><\/p>\n

        \n
      • CAF \u2013 Development Bank of Latin America and the Caribbean<\/strong>.<\/li>\n
      • Carlos Cant\u00fa<\/strong>, Representative Office for the Americas, Monetary Economics Department of the Bank for International Settlements (BIS) (virtual).<\/li>\n
      • Mar\u00eda Fernanda Viecens<\/strong>, Professor at Universidad de San Andr\u00e9s, Argentina.<\/li>\n
      • Krisztian Katona<\/strong>, Vice President for Global Competition and Regulatory Policy, Computer and Communications Industry Association (CCIA), Washington, DC<\/li>\n<\/ul>\n

         <\/td>\n<\/tr>\n

      10:50 \u2013 11:05<\/td>\nSession for questions, answers, conclusions and recommendations.<\/strong><\/td>\n<\/tr>\n
      11:05 \u2013 12:30<\/td>\nPresentation of subregional publications on competition.<\/strong><\/td>\n<\/tr>\n
      12:30\u2013 2:00<\/td>\nLUNCH<\/strong><\/td>\n<\/tr>\n
      Afternoon<\/strong><\/td>\n<\/tr>\n
      02:00 \u2013 04:00<\/td>\nSession II. Discussion on trade and competition policies for Fintech in Latin America and the Caribbean.
      \nModerator: to be determined (Dominican Republic).<\/strong><\/p>\n
        \n
      • Esteban Greco<\/strong>, Director, Games Economics.<\/li>\n
      • Georgina N\u00fa\u00f1ez<\/strong>, Economic Affairs Officer at the Economic Commission for Latin America and the Caribbean (ECLAC) (virtual).<\/li>\n
      • Ana Maria Zarate Moren<\/strong>o, FinTechLAC \u2013 IDB, Colombia **(to be confirmed)<\/li>\n
      • Santiago Ximenez<\/strong>, Director-General, Bolsas y Mercados Espa\u00f1oles (BME) and Market Data.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      04:00 -04:30<\/td>\nSession for questions, answers, conclusions and recommendations.<\/strong><\/td>\n<\/tr>\n
      Friday 3 November 2023<\/strong><\/td>\n<\/tr>\n
      Morning<\/strong><\/td>\n<\/tr>\n
      08:30 \u2013 11:00<\/td>\nSession III. Competition and FINTECH<\/strong><\/p>\n

      Session III.A. Competition agencies: best practices, case studies and policy recommendations for the (cross-border) Fintech financial sector
      \nModerator: to be determined.<\/strong><\/p>\n

        \n
      • Santiago Soldevila<\/strong>, Magistrate of the Contentious-Administrative Chamber, Spain.<\/li>\n
      • Ana Mar\u00eda Res\u00e9ndiz Mora<\/strong>, Commissioner, Federal Economic Competition Commission (COFECE), Mexico.<\/li>\n
      • Rodolfo Luis Tupayachi Romaro<\/strong>, National Directorate for Investigation and Promotion of Free Competition (INDECOPI), Peru<\/li>\n
      • V\u00edctor Santelices<\/strong>, Head of Litigation Division, National Economic Prosecutor’s Office (FNE), Chile<\/li>\n
      • Rebeca de Queiroga Falc\u00e3o<\/strong>, Head of Office, Administrative Council for Economic Defence (CADE), Brazil.<\/li>\n
      • Micaela P\u00e9rez Moreno<\/strong>, Director of Anti-competitive Conducts, National Commission for the Defence of Competition (CNDC), Argentina<\/li>\n
      • Juan Sebasti\u00e1n Ternera Camargo<\/strong>, Officer of the Working Group on Protection and Promotion of Competition. Superintendency of Industry and Commerce, Colombia<\/li>\n
      • Carolina Lozano<\/strong>, General Intendant of Management, Superintendency for Control of Market Power (SCPM), Ecuador<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      11:00 \u2013 12:15<\/td>\nSession III.B. Regulatory agencies: development of the legal environment for the supervision of the Fintech financial sector.
      \nModerator: Alejandro Fern\u00e1ndez Whipple, Superintendent of Banks of the Dominican Republic.<\/strong><\/p>\n
        \n
      • \u00c1ngel Tejeda<\/strong>, Director of the Payment Systems Department. Central Bank of the Dominican Republic.<\/li>\n
      • William Pedraza<\/strong>, Head of the Innovation Centre, Central American Bank for Economic Integration (CABEI), Honduras.<\/li>\n
      • Enmanuel Cede\u00f1o<\/strong>, Intendant. Superintendency of Securities, Dominican Republic.<\/li>\n
      • Luis Figueroa de la Barra<\/strong>, Director-General of Prudential Regulation, Commission for the Financial Market (virtual), Chile.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      12:15 \u2013 12:30<\/td>\nSession for questions, answers, conclusions and recommendations.<\/strong><\/td>\n<\/tr>\n
      12:30\u2013 02:00<\/td>\nLUNCH<\/strong><\/td>\n<\/tr>\n
      Afternoon<\/strong><\/td>\n<\/tr>\n
      02:00 \u2013 03:40<\/td>\nSession IV. Discussion on the right balance between regulation and innovation in Fintech financial markets and the role and scope of competition agencies in Latin America.
      \nModerator: Juan Luis Crucelegui, Chief of Capacity Building and Advisory Services (UNCTAD)<\/strong><\/p>\n
        \n
      • Mar\u00eda Elena V\u00e1squez<\/strong>, Chair of the Board of Directors, ProCompetencia Dominican Republic.<\/li>\n
      • Cabinet of Innovation of the Dominican Republic<\/strong>.<\/li>\n
      • Luis Diez Canseco<\/strong>, Dean of the Faculty of Law, Technological University of Peru.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n
      03:40 \u2013 04:00<\/td>\nSession for questions, answers, conclusions and recommendations.<\/strong><\/td>\n<\/tr>\n
      04:00 \u2013 04:30<\/td>\nProposed theme and venue for the XII Meeting of the WGCC in 2024<\/strong><\/td>\n<\/tr>\n
      04:30 \u2013 05:00<\/td>\nClosing session<\/strong><\/p>\n
        \n
      • ProCompetencia. Mar\u00eda Elena V\u00e1squez<\/strong>, Chair of the Board of Directors, Dominican Republic.<\/li>\n
      • UNCTAD. Juan Luis Crucelegui<\/strong>, Chief of Capacity Building and Advisory Services, Department of Competition and Consumer Policies.<\/li>\n
      • SELA. Clarems Endara<\/strong>, Permanent Secretary, Latin American and Caribbean Economic System.<\/li>\n<\/ul>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n <\/div>\n <\/div>\n\n\n
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