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Australia: Competition watchdog wants tougher penalties

By  |  February 19, 2015

The Australian Competition and Consumer Commission wants the courts to impose larger penalties of up to $100 million.

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    In a speech to the Committee for Economic Development of Australia, ACCC chairman Rod Sims said the competition watchdog thinks the penalties should offer more deterrence.

    New competition laws in effect mean companies that fall foul of regulations can be fined up to 10 per cent of their turnover, but those laws do not apply to breaches of consumer law.

    “I’m pointing out that Justice Gordon has said that maybe parliament ought to think about it,” Mr Sims said.

    Full Content: SBS

     

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