The Australian Competition and Consumer Commission (ACCC) stated on Tuesday, October 2, it had opened an inquiry into foreign exchange services in the country, reported The Financial Times.
The regulator announced in a statement that it would examine price competition among suppliers of foreign currency conversion services and consider how easily potential entrants to the market could compete.
“Complaints have been made about a number of suppliers, including the big four banks, a number of online transfer companies, Travelex, Western Union and PayPal,” the regulator stated.
The assessment will focus on the purchase of foreign cash, the transfer of money overseas, and whether there are “impediments to effective price competition,” such as barriers to entry for service providers.
Full Content: Financial Times
Featured News
UK Business Secretary Calls for More Agile Competition Regulator
Feb 13, 2025 by
CPI
Germany’s Antitrust Regulator Raises Concerns Over Apple’s App Tracking Policies
Feb 13, 2025 by
CPI
$60 Billion Nissan-Honda Merger Falls Apart
Feb 13, 2025 by
CPI
DOJ Moves to End Protections for Three Regulatory Agencies
Feb 13, 2025 by
CPI
Meta to Allow Rivals to List Ads on Facebook Marketplace Following EU Fine
Feb 13, 2025 by
CPI
Antitrust Mix by CPI
Antitrust Chronicle® – International Criminal Enforcement
Jan 23, 2025 by
CPI
The Antitrust Division’s Recent Work to Combat International Cartels
Jan 23, 2025 by
Emma Burnham & Benjamin Christenson
Information Sharing: The New Frontier of U.S. Antitrust Enforcement
Jan 23, 2025 by
Brian P. Quinn, Casey Kovarik & Michael Tubach
The Key Role of Guidelines on Exchanges of Information Among Competitors and the Divergent Transatlantic Paths
Jan 23, 2025 by
Rosa Abrantes-Metz & Albert Metz
Leniency, Whistleblowers, and Compliance
Jan 23, 2025 by
Richard Powers, Tara O’Malley & Cory Gordon