The Superintendency for Market Power Control

 

Mission

 

To control the correct functioning of the markets, preventing the abuse of market power by domestic and foreign economic agents and all the anti-competitive practices that affect the consumers; fostering the efficiency in the markets, the fair trade and contributing to the general wellbeing of the consumers and users.

 



 

Strategic Goals

 

a) To promote the competition, the transparency and the efficiency of markets as the means to pursuit the “Buen Vivir”, through the encouragement and promotion of the legal, regulatory, institutional and political framework.

b) To prevent, control and reduce the abuse of market power, as well as the restrictive agreements and practices opposed to the foreseen regime of Law

c) To control mergers, as foreseen by Ecuadorian Law.

d) To control the existence of unfair practices in the market and to ensure the loyalty and development of the economic activities.

e) To support and manage in an appropriate, timely and efficient manner the human, financial, administrative and technological resources of the Superintendency for Market Power Control.

 

The activities of the Superintendency for Market Power Control are regulated under the “ORGANIC LAW FOR THE REGULATION AND MARKET POWER CONTROL”.

 

The Superintendency was created by and is regulated by the “Organic Law for the Regulation and Market Power Control” (Ley Orgánica de Regulación y Control del Poder de Mercado – LORCPM) (Addendum to the Official Registry number 555 – October 13, 2011.)

 

The goal of this law is to avoid, prevent, rectify, eliminate, and penalize unfair practices by those economic operators who hold considerable market power; to prevent, prohibit, and penalize collusive agreements and other anti-competitive practices; to control and regulate market concentration; and to prevent, prohibit, and penalize unfair practices, in order to promote market efficiency, fair trade, and the general wellbeing of consumers and the public, with the aim of establishing a solidary and sustainable economic system.

 



 

Scope

 

All economic operators must comply with the afore-mentioned law, whether they be natural persons or legal entities, public sector or private sector organizations, domestic or foreign organizations, and for-profit or nonprofit organizations that currently or at a future time may potentially conduct economic activities within all or part of the Ecuadorian national territory. This includes the guilds within these former groups and any organization that conducts economic activities outside the country but whose actions, activities or agreements currently have or may potentially have a negative impact on the national market.


The Superintendency is an autonomous regulatory body with sanctioning power. It acts upon the request of another government body or interested party.

The Superintendency is part of the Function for Transparency and Social Control (Función de Transparencia y Control Social) (Article 204 of the Ecuadorian Constitution.)

 



 

What are the overarching goals for market power control?

 

  • Market Efficiency.
  • Fair Trade.
  • General Wellbeing.
  • A socially responsible, solidary, and sustainable economic system.

 



 

To which attribution the Superintendency for market power control should refer in order to enforce the Law to the economic operators?

 

    • The ability to establish norms within its areas of competency.
    • To ensure market transparency and efficiency, and promote competition.
    • To Prevent, identify, investigate, correct , sanction and eliminate the following:
  • The market power abuse.
  • Unfair commercial practices and agreements.
  • Unfair practices.
  • To control, authorize, and sanction mergers.

 

 



 

What can the Superintendency for the Market Power Control do to ensure that economic operators comply with the law?

 

    • Conduct market research.
    • Perform pre-inquiries and inquiries:
  • Request information.
  • Summon natural persons or legal entities.
  • Conduct inspections, appraisals, and examine potential proof.
  • Mandate the ceasing of illegal practices.
  • Coordinate joint actions with autonomous governments and public or private entities.
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