Resolution No. 51/2024 of the Secretariat of Commerce: Repeal of Provisions in Consumer Protection Matters

On January 29, 2024, Resolution No. 51/2024 of the Secretariat of Commerce of the Ministry of Economy was published, which repealed several resolutions and provisions in matters of consumer protection law. The main amendments are as follows: 

Financial Entities

- Credit Cards: Resolution No. 134 dated March 4, 1998, which established the obligation for banking entities, financial entities, and entities of any other nature to report monthly the interest rates, expenses, and charges applicable to credit card holders. 

- Mortgage Loans: Resolution No. 313 dated May 12, 1998, which required the quarterly reporting of the total financial cost of mortgage credit operations aimed at the acquisition of real state.

Pledge Loans for the Acquisition of brand-new vehicles

Resolution No. 387 dated June 8, 1999, which established the obligation to report quarterly the total financial cost and the total installment value of pledge credit operations on brand-new automobiles intended for private use. 

Prepaid Medicine

Resolutions No. 54 dated April 24, 2000, and No. 60 dated May 2, 2000, which established the obligation for prepaid medicine service providers to report every four months the total monthly installment value for the provision of the service. 

Insurance

Resolution No. 75 of December 20, 2002, which established the obligation for authorized insurance companies to operate in the automobile sector to report quarterly the monthly value of insurance premiums and the insured value of motor vehicles. 

Retail Sale of Products

Prices

- The obligation for retail distribution establishments to report the prices of certain products set forth by Resolutions No. 19 of April 22, 2002, No. 102 of November 27, 2003, and No. 54 of May 17, 2004. 

- Resolutions No. 430 of May 2, 2022, and No. 446 of May 8, 2022, which communicated reference prices for retail sale.

- Resolution No. 52 of November 15, 2002, which established that suppliers who had previously reported prices of their products could sell them for lower amounts.

- Resolutions No. 6 of March 26, 2014, and No. 10 of April 16, 2014, which created the Information System of the Price Reporting Regime (SIRIP). 

- Resolutions No. 3 of March 19, 2020, and No. 14 of October 6, 2020, which established an informative regime for publishing maximum reference prices for a basic basket of consumer products, set those prices, and a public and free mechanism for receiving consumer complaints and reports.

"Precios Cuidados" and "Precios Justos" Programs

- Resolutions No. 1 of January 17, 2020, No. 42 of January 11, 2021, No. 50 of February 8, 2022, and No. 405 of April 26, 2022, which regulated the "Precios Cuidados" program and its lists of recommended prices.

- Resolutions No. 466 of April 17, 2023, and No. 1,876 of October 25, 2023, which established the documentation to be signed with the entities that intended to adhere to the "Precios Justos" program.

- Supply: Resolution No. 17 of February 13, 2015, which created the SIMONA information regime (Supply and Availability of Goods and Inputs Monitoring System).

- Labeling: Resolution No. 283 of March 30, 2021, which created the Labeling and Tags Supervision System.

- Supermarkets Shelf Space Law: The Resolutions No. 110 of January 27, 2021, No. 485 of May 11, 2021, No. 696 of July 5, 2021, No. 926 of September 8, 2021, and No. 1,055 of November 19, 2021, which established certain obligations to be fulfilled as set forth by Supermarkets Shelf Space Law.

Educational Institutions

Resolutions No. 678 of September 16, 1999, and No. 8 of January 28, 2003, which established the obligations of official educational establishments and private universities to report the amounts received for the provision of their services.

Consumers Customer Services

- Remote Customer Service: Resolution No. 1,033 of October 6, 2021, which established the mandatory minimum quality standards for remote customer service and communication services provided by suppliers of goods and services.

- Collections: Resolution No. 425 of April 6, 2022, which established the information to be provided to consumers in communications about alleged debts made through postal, telephone, electronic means, fax, text message, voice message, or similar.

- Consumer Over-indebtedness: Disposition No. 11 of July 12, 2023, which approved the Regulation for the prevention and solution of consumer over-indebtedness.

To access Resolution No. 51/2024 of the Secretariat of Commerce: Repeal of Provisions in Consumer Protection Matters click here.

For more information, feel free to contact Melisa Romero, Francisco Zappa, and/or Clara Rubio Goenaga.