Regulating Competition in Professional Services—A Balancing Act?

Introduction:

"The value of competition in professional services has not always been readily accepted by policymakers in Ireland. Professions are entrusted with delivering services of considerable public importance and many believe that competing for customers will interfere with the objective of maintaining standards. Some have questioned how trust between professionals and their clients can be maintained if the supplier is seen to be more interested in personal gain and business promotion than in client welfare. Others argue that the quality of the service will surely suffer if suppliers are preoccupied with competing on price."

"Section B examines the rationale for regulating professional services. Section C questions who should do the regulating where a need has been established, ie is independent or self-regulation preferable. Section D goes on to examine some of the key competition issues that have arisen across professional services and reviews the Authority’s recommendations and solutions. Section E presents some conclusions."