The conference will focus on current topics in consumer protection and advertising regulations; or how to avoid record fines. Andrea Magdolna Nagy will give two presentations:
11:00 – 11:30 a.m. The challenges and cost impact of bracketed mandatory guarantees
Mandatory guarantees have been a hot topic in the press for months. For the right reasons, actually, because the regulations will be drastically transformed as of 1 January 2021, and the industries impacted by the changes should know the new rules well so that retailers can avoid fines, and that everybody can prepare for any ripple effects throughout a supply chain and optimise their response. Additionally, Government Decree No. 151/2003, which sets out the rules of mandatory guarantees, includes a few contradictory and incomplete provisions, making the implementation of the modifications that much more difficult. I will give practical and pragmatic advice that can help all participants in their preparations.
1:10 – 1:40 pm Current topics in consumer protection and advertising, or how to avoid record fines
Although it was not so long ago that the operator of booking.com received a record fine of HUF 2.5 billion for, among other things, using urgency tactics to induce sales, advertisers and web shop operators are still not attentive enough: time and again we see examples of companies pursuing misleading or aggressive commercial practices. The Hungarian Competition Authority’s press releases attest to this – a company was recently fined for HUF 100 million for pressuring its customers into making purchases with false statements about its allegedly fast-dwindling supplies. It will also not be advised to have sales discounts if a higher original price never existed, and there are many more typical mistakes that could result in hefty fines. My presentation will address every key issue that can help you to avoid fines.
The event is organised by IIR, and you can register on their website: