Chairman Rod Sims outlines the role of the regulator in a changing economy, including recent actions the ACCC has taken on infrastructure pricing, against cartel conduct and to improve consumer protection.
Chairman Rod Sims outlines the ACCC's new approach to information gathering in merger analysis, and how an increase in resources for cartel investigations over the past three years resulted in this week's once-in-a-century conviction for cartel conduct.
The Federal Court has today convicted Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK) of criminal cartel conduct and ordered it to pay a fine of $25 million: the second-highest imposed in ACCC history.
Today’s judgment also marks the first successful prosecution under the criminal cartel provisions of the Competition and Consumer Act 2010 (CCA).
The Federal Court has imposed a pecuniary penalty of $3.5 million against Prysmian Cavi E Sistemi S.R.L. (Prysmian), an Italian corporation, for engaging in cartel conduct in relation to the supply of high voltage land cables in Australia.
The Court found in July last year that Prysmian had entered into and given effect to agreements involving price guidance to competitors and project allocation. The contravening conduct related to an Australian project in 2003 to supply high voltage land cables and accessories to the Snowy Mountains Hydro Electric Scheme.
The High Court of Australia today found that price fixing agreements entered into between Air New Zealand Ltd (Air NZ), PT Garuda Indonesia Ltd (Garuda), and other international airlines, which occurred between 2002 and 2006, breached Australia’s competition law.
“This is a significant win for the ACCC in the long-running, highly contested air cargo cartel proceedings,” ACCC Commissioner Sarah Court said.
The Federal Court has dismissed proceedings brought by the Australian Competition and Consumer Commission against electrical cable manufacturers and wholesalers, and their executives for alleged cartel conduct.
The Federal Court has imposed multi-million dollar penalties on Australia and New Zealand Banking Group Limited (ANZ) and Macquarie Bank Ltd (Macquarie) for attempted cartel conduct after action by the Australian Competition and Consumer Commission.
Following the filing of joint statements of facts and submissions by the parties, Justice Wigney imposed penalties of:
The Australian Competition and Consumer Commission has today taken proceedings on a consent basis against Australia and New Zealand Banking Group Limited (ANZ) and Macquarie Bank Limited (Macquarie) in relation to alleged attempts to engage in cartel conduct.
Following cooperation by ANZ and Macquarie, the parties have agreed on the following facts to be presented to the Federal Court for its consideration:
Criminal charges have been laid against Japanese-based company Kawasaki Kisen Kaisha (K-Line) in relation to alleged cartel conduct concerning the international shipping of cars, trucks, and buses to Australia between July 2009 and September 2012.
The matter was before the Downing Centre Local Court for a first mention today, 15 November 2016.
This is the second matter in which criminal charges have been laid against a corporation under the criminal cartel provisions of the Competition and Consumer Act 2010.
ACCC Chairman Rod Sims delivers his annual address to the Law Council of Australia's Competition and Consumer Workshop. Mr Sims discusses key competition cases and the ACCC's recent record on merger reviews. He also reports that market studies are now a core part of the ACCC's work.