In a wide-ranging interview, the Director General of the Sri Lanka Telecom Regulatory Commission (TRC) explained the reasons for requiring mandatory registration of IMEI numbers from October 1, 2020, saying all commercial vendors of terminal devices had to be registered with the TRC and that the IMEIs of the devices they sold had to be registered as well. He stated that these actions were being taken to protect consumers. Consumer protection in a market economy is anchored on information asymmetry. The default position is caveat emptor: let the buyer beware. Each consumer has a right to decide on the price-quality bundle he/she wishes to buy.