Media

Open markets must benefit consumers or distrust will grow

Markets must work in favour of consumers and the public must be convinced of the benefits of competition or distrust in the market mechanism can grow, Australian Competition and Consumer Commission Chair Rod Sims warned today.

Addressing the 2017 Australian Conference of Economists in Sydney, Mr Sims signalled any loss of public confidence in market economics puts at risk the positive change countries and institutions are capable of if they embrace an open market system.

ACCC urges Horticulture Industry to comply with code

The Australian Competition and Consumer Commission is putting growers and traders in the horticulture industry on notice that they need to take steps to comply with the 2017 Horticulture Code of Conduct, or face penalties and fines.

Addressing the 2017 NSW Farmers Horticulture Forum today, ACCC Commissioner Mick Keogh called on growers and traders to familiarise themselves with the Code and to ensure their businesses are compliant.

Beware high risk, no reward investment scams

The ACCC is warning the community to watch out for investment scammers who promise the world but leave their victims with broken dreams and empty bank accounts.

“In the first half of 2017, Australians have reported losing over $13 million to investment scams to the ACCC’s Scamwatch website, making it the most profitable of all the current scams. It is likely that losses are much higher as many victims do not report scams or contact other authorities,” ACCC Deputy Chair Delia Rickard said.

Private health insurance report 2015-16

This report analyses key competition and consumer developments and trends in the private health insurance industry during the reporting period that impacted on consumers’ health cover and out-of-pocket expenses.

ACCC appeals Tribunal decision in Tabcorp-Tatts merger

The Australian Competition and Consumer Commission has applied to the Federal Court for judicial review of the Australian Competition Tribunal’s decision to grant authorisation for Tabcorp Holdings Limited (ASX:TAH) to acquire Tatts Group Limited (ASX:TTS). 

The Tribunal’s reasons for its decision found that the proposed acquisition was likely to result in substantial public benefits and no material detriment.

Canadian connection builds on international experience

The Australian Competition and Consumer Commission is pleased to announce that Ms Jeanne Pratt of the Canadian Competition Bureau will be acting Executive General Manager of its Merger and Authorisation Review Branch as part of a 12-month interchange.

Ms Pratt will be replacing Mr Rami Greiss, who will take on the position of Senior Deputy Commissioner, Cartels and Deceptive Marketing Practices Branch at the Canadian regulator, where Ms Pratt is currently Senior Deputy Commissioner, Mergers and Monopolistic Practices Branch.

Small business urged to review their payment surcharges

The ACCC is urging small business owners to start preparing now for the ban on excessive payment surcharges that will apply to all businesses across Australia from 1 September 2017.

The new law limits the amount that a business can charge customers for use of payment methods such as EFTPOS (debit and prepaid), MasterCard (credit, debit and prepaid), Visa (credit, debit and prepaid) and American Express cards issued by Australian banks. It came into effect for large businesses last year.