On 18 August 2022, the Federal Government released for consultation the Treasury Laws Amendment (Competition and Consumer Reforms No. 1) Bill 2022: More competition, better prices. The exposure draft legislation seeks to significantly increase the maximum penalty per contravention to AUD 50+ million for corporations engaging in anti-competitive conduct (including, for example, cartel offences, misuse of market power, and exclusive dealing) under Part IV of the Competition and Consumer Act 2010 as well as for contraventions of the Australian Consumer Law. Penalties for breach of competition and consumer laws in Australia have increased rapidly in recent years, particularly in the context of consumer law contraventions, which will have seen an almost 50 times increase in the maximum penalty per contravention over a five year period (if the draft legislation is passed).

In Commonwealth Director of Public Prosecutions v Citigroup Global Markets Australia Pty Ltd [2021] FCA 511, the Federal Court has handed down an important decision which highlights the dilemma that may be faced by an immunity applicant in complying with its duty to provide full, frank and truthful disclosure and to co-operate under the ACCC’s Immunity and Cooperation Policy for Cartel Conduct (ACCC Policy) and maintaining legal professional privilege over witness accounts provided to solicitors at an early stage in an investigation.

On 19 March 2021, the Full Federal Court allowed an appeal in the matter of ACCC v Quantum Housing Group Pty Ltd [2021] FCAFC 40.  The Full Court judgment provides important clarification of the elements required to establish statutory unconscionable conduct under s 21 of the Australian Consumer Law (“ACL”).

The critical finding of the Full Court is that although some form of exploitation or predation upon some vulnerability or disadvantage will often be a feature of unconscionable conduct, it is not a necessary element of unconscionable conduct under s 21 of the ACL.

Yesterday, the Chairman of the Australian Competition and Consumer Commission (ACCC), Rod Sims, announced the ACCC’s compliance and enforcement priorities for 2021 and the market studies and advocacy work that the ACCC would continue this year.

Mr Sims identified a range of industry sectors, as well as specific competition and consumer law issues that will be the focus of the ACCC’s compliance and enforcement activities for 2021.

In brief Yesterday, the Chairman of the Australian Competition and Consumer Commission (ACCC), Rod Sims, announced the ACCC’s compliance and enforcement priorities for 2021 and the market studies and advocacy work that the ACCC would continue this year. Mr Sims identified a range of industry sectors, as well as specific…

In brief Yesterday, the Chairman of the Australian Competition and Consumer Commission (ACCC), Rod Sims, announced the ACCC’s compliance and enforcement priorities for 2021 and the market studies and advocacy work that the ACCC would continue this year. Mr Sims identified a range of industry sectors, as well as specific…

Yesterday, the Chairman of the Australian Competition and Consumer Commission (ACCC), Rod Sims, announced the ACCC’s compliance and enforcement priorities for 2021 and the market studies and advocacy work that the ACCC would continue this year.

Mr Sims identified a range of industry sectors, as well as specific competition and consumer law issues that will be the focus of the ACCC’s compliance and enforcement activities for 2021.

The Statutes Amendment (National Energy Laws) (Penalties and Enforcement) Act 2020 (Act) commenced on 29 January 2021, arming the Australian Energy Regulator (AER) for the first time with the power to compulsorily seek information and to undertake compulsory examinations in the course of investigations.  The Act also very significantly increases the maximum penalties for contraventions of the civil penalty provisions in the National Energy Law and associated legislation and rules, on terms that are analogous to the penalty regime in the Australian Consumer Law.

This alert summarises the key changes and risks associated with the new regime that market participants should be aware of, and identifies steps that should now be taken to minimise those risks.

In brief On 9 November 2020, the Federal Government published a Decision Regulation Impact Statement (Decision RIS), recommending significant reforms to the unfair contract terms (UCTs) regime in the ‘Australian Consumer Law’ (ACL). If passed, the reforms will result in UCT’s being illegal and will give Federal Court the power…

Businesses have been straining under supply chain challenges to deal with the broader implications of COVID-19 and have been turning to the Australian Competition and Consumer Commission (ACCC) for permission to work together with their competitors to address these issues. This alert aims to provide practical guidance on when and…