Our experience shows that licensing – especially online activity licensing – procedures can be very confusing for investors. In many cases they fail to safeguard public interest.
Two main mechanisms can simplify licensing
- Reviewing the objectives and reasoning of each and every license. It is quite common that licenses do not fit their purpose. In other cases they are required only because of information gathering or historical reasons that do not matter any longer.
- Moving from ex-ante to ex-post regulation wherever reasonable and practicable.
Activity licenses should be issued only to existing companies. In addition, to transfer licences from one company to another is forbidden.
