National Competent Authorities (NCAs)

National Competent Authorities (NCAs) are government agencies in each country responsible for overseeing and regulating specific sectors, such as finance, health, or consumer protection. Their main role is to ensure compliance with laws and regulations, protect public interests, and promote fair practices. For example, in the financial sector, an NCA would monitor banks and financial institutions to ensure they operate safely and fairly. NCAs play a crucial role in maintaining trust in the systems they regulate, safeguarding consumers, and supporting economic stability.