The Federal Court has today ordered by consent that NSK Australia Pty Ltd (NSK Australia) pay total penalties of $3 million for its involvement in cartel conduct in relation to the price of bearings in Australia, in proceedings brought by the Australian Competition and Consumer Commission (ACCC).
The Australian Competition and Consumer Commission has released a draft of its new Immunity and Cooperation Policy for Cartel Conduct (ICP) and supplementary Frequently Asked Questions (FAQs) for public comment.
Chairman, Rod Sims, announces the ACCC's priorities for 2014. Issues discussed include drip pricing, disruption of scams, "discounts off what?" in the energy and telco sectors, emerging consumer issues in the online marketplace, and credence claims.
The Australian Competition and Consumer Commission has filed civil proceedings, in the Sydney registry of the Federal Court of Australia, in relation to an alleged cartel that the ACCC alleges denied Australian consumers the benefits of lower prices for laundry detergent products.
The ACCC alleges that Colgate-Palmolive Pty Ltd (Colgate) and PZ Cussons Australia Pty Ltd (Cussons) made and gave effect to cartel and other anti-competitive arrangements. The ACCC alleges that Colgate, Cussons and Unilever Australia Limited (Unilever) entered into arrangements to:
The Australian Competition and Consumer Commission has concluded an investigation following comments made by the Chairman of Echo Entertainment, Mr John O’Neill, that the Chairman of Crown, Mr James Packer, made a statement which could have been interpreted as an attempt to engage in market sharing in relation to casino operations in New South Wales and Queensland.
The ACCC found that there is insufficient evidence to support a contravention of the cartel provisions of the competition laws.
The Australian Competition and Consumer Commission has released a public discussion paper inviting comment upon several key issues arising from its review of the ACCC Immunity Policy for Cartel Conduct.
Given the importance of an immunity program, the ACCC regularly reviews the effectiveness of its immunity policy and commenced the current review earlier this year. Following a targeted consultation, the ACCC has identified a number of key issues upon which it seeks further comment, including:
The Australian Competition and Consumer Commission has instituted civil proceedings in the Federal Court against Koyo Australia Pty Ltd (Koyo) for alleged cartel conduct relating to the supply of ball and roller bearings for use in motor vehicles and industrial applications.
The ACCC alleges that in 2008 and 2009, Koyo and at least two of its competitors made and gave effect to two separate cartel arrangements for an increase to the price of bearings to their aftermarket customers.