Cartels

Criminal cartel charges laid against ANZ, Citigroup and Deutsche Bank

Citigroup Global Markets Australia Pty Limited (Citigroup), Deutsche Bank Aktiengesellschaft (Deutsche Bank) and Australia and New Zealand Banking Group Ltd (ANZ) have been charged with criminal cartel offences following an investigation by the ACCC.

Criminal charges have also been laid against several senior executives: John McLean, Itay Tuchman and Stephen Roberts of Citigroup; Michael Ormaechea and Michael Richardson formerly of Deutsche Bank; and Rick Moscati of ANZ.  

Update: Criminal cartel charges to be laid against Citigroup

Further to its earlier statements regarding criminal cartel charges expected to be laid by the Commonwealth Director of Public Prosecutions (CDPP) against ANZ, its Group Treasurer Rick Moscati, and Deutsche Bank, the ACCC can confirm that Citigroup Global Markets Australia Pty Limited is the other company against which charges are expected to be laid, along with a number of individuals.

The expected charges follow an extensive ACCC criminal cartel investigation.

The ACCC will not make any further comment until charges are laid. 

Update: Criminal cartel charges to be laid against Deutsche Bank

Further to its earlier statement regarding criminal cartel charges expected to be laid by the Commonwealth Director of Public Prosecutions (CDPP) against ANZ and its Group Treasurer Rick Moscati, the ACCC can confirm that Deutsche Bank AG is one of the two other companies against which charges are expected to be laid, along with a number of individuals.

The expected charges follow an extensive ACCC criminal cartel investigation.

The ACCC will not make any further comment until charges are laid. 

Record $46 million in penalties for Yazaki cartel

The Full Federal Court has today ordered Japanese company Yazaki Corporation (Yazaki) to pay increased penalties of $46 million for cartel conduct, following an appeal by the ACCC. This is the highest penalty ever handed down under the Competition and Consumer Act (2010).

The trial judge had earlier found that Yazaki had engaged in anti-competitive cartel conduct in the supply of wire harnesses used in the manufacture of the Toyota Camry. The Full Court dismissed Yazaki’s cross-appeal of the trial judge’s finding that it had engaged in cartel conduct.

Second shipping company pleads guilty to criminal cartel conduct

Kawasaki Kisen Kaisha (K-Line), a global shipping company based in Japan, has today entered a guilty plea in the Federal Court to criminal cartel conduct.

K-Line’s plea follows an investigation by the ACCC and charges laid by the Commonwealth Director of Public Prosecutions in relation to cartel conduct concerning the international shipping of cars, trucks, and buses to Australia.

Flight Centre ordered to pay $12.5 million in penalties

The Full Federal Court of Australia has today ordered Flight Centre to pay penalties totalling $12.5 million for attempting to induce three international airlines to enter into price fixing arrangements between 2005 and 2009.

Flight Centre sought to have each airline agree not to offer airfares on its own website that were less than those offered by Flight Centre.

The matter was remitted to the Full Federal Court for determination of penalty, following the ACCC’s successful appeal to the High Court of Australia in December 2016.

2018 compliance & enforcement priorities

In his annual CEDA address, Chairman Rod Sims launched the ACCC's 2018 Compliance and Enforcement policy. This year, the ACCC will focus on consumer issues in broadband services and energy, competition in the financial services and commercial construction sectors, systemic consumer guarantee issues, and conduct that may contravene the new misuse of market power and concerted practices provisions.

Criminal cartel proceedings commenced against Country Care and its managers

Following an investigation by the ACCC, criminal charges have been laid against The Country Care Group Pty Ltd (Country Care), its Managing Director, Robert Hogan, and a former employee, Cameron Harrison. 

The charges relate to alleged cartel conduct involving assistive technology products used in rehabilitation and aged care, including beds and mattresses, wheelchairs and walking frames. 

Country Care is based in Mildura, Victoria.

The charges are listed for mention before the Magistrates’ Court of Victoria in Mildura on 14 March 2018.