Cappiello_worshop_NOV 2021_presentation_S2-3

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