ACCC resolves to re-think its approach to penalties based on OECD report finding that average Australian penalties are substantially lower than those imposed in comparable OECD jurisdictions for breaches of competition law
February was a frenetic month: the ACCC released its 2018 priorities, two Bills on the ACL were released and the Productivity Commission released its draft report on competition in the Australian Financial System.
It seems that Fair Trading/Consumer Affairs Ministers across the country have put aside their political differences to reach agreement on recommended changes to the Australian Consumer Law (ACL).
The Budget gives the ACCC new funds for new jobs, hikes ACL penalties for and introduces measures for more competitive and fairer energy and banking sectors