Allow professional bodies to set fee guidelines

Published in Today Paper

From time to time, we read about excessive charges by professionals for legal, medical and other services that are levied on consumers. While some cases have been brought to the public's knowledge, I wonder how many other cases do not come to light.

We have now come to a stage where professionals appear to be free to charge what they like in a deregulated, free-market environment. How can consumers know what are reasonable charges and how they are protected?

I urge the Competition Commission to review its stand against professional bodies setting guidelines on professional fees. These guidelines allow consumers to know what the reasonable charges are and still negotiate with the providers for lower fees. The publication of guidelines by professional bodies should be allowed, so long as it is not mandatory on the professionals.

They also allow newly established firms to convince clients they are charging lower fees, as their charges can be compared against the guidelines. This will help the cause of free competition, for the benefit of consumers and ethical professionals. 
Letter from Tan Kin Lian