find the latest legal job
Corporate/Commercial Lawyers (2-5 years PAE)
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Specialist commercial law firm · Long-term career progression
View details
Graduate Lawyer / Up to 1.5 yr PAE Lawyer
Category: Personal Injury Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Mentoring Opportunity in Regional QLD · Personal Injury Law
View details
Corporate and Commercial Partner
Category: Corporate and Commercial Law | Location: Adelaide SA 5000
· Full time · Join a leading Adelaide commercial law firm
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Sydney NSW
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
In-house Legal Counsel & Commercial Lawyers
Category: Corporate and Commercial Law | Location: All Melbourne VIC
· Providing lawyers with flexibility and control over when they work, how they work and who they work for.
View details
ACCC to ‘up the ante’ against cartels: report

ACCC to ‘up the ante’ against cartels: report


A global law firm has released data on cartel activity around the world, predicting increased activity from Australia’s corporate regulator in the second half of 2017.

Allen & Overy recently released the mid-year findings from its Global Cartel Enforcement Report.

The firm noted that the Australian Competition and Consumer Commission (ACCC) has issued only one fine so far this year, totalling US$7 million (approx AU$8.8 million), against an automotive manufacturer.

This was down from four fines totalling US$34.3 million (approx AU$43.2 million) in H1 2016.

However, Allen & Overy said the regulator may be more active over the rest of the year as it is waiting on several judgments and penalty outcomes, including its successful High Court case against Flight Centre for attempted price-fixing.

“In terms of the Australian landscape, I expect to see an aggressive push to up the ante,” said Sydney partner Peter McDonald (pictured), who leads the firm’s competition team in the Asia-Pacific region.

“The competition regulator has been making public statements in courts and to the media stating that it will seek to dramatically increase the value of fines and bring more criminal prosecutions.

“Although the first half of 2017 has seen a drop in fines, the ACCC remains highly active and is awaiting judgments on a number of proceedings, most notably its High Court appeal against Flight Centre. We’ll likely see those outcomes in the latter half of 2017.”

Looking at the region more broadly, Mr McDonald said competition law in the Asia-Pacific is rapidly evolving.

“The cartel enforcement landscape in the Asia-Pacific region is dynamic, and we’re seeing constant development in the region,” he said.

“In Australia, we have well-established competition law and the ACCC is aggressive. Other mature economies such as South Korea and Japan produce a steady flow of fines, while newer competition regimes in Hong Kong and Singapore will be increasingly active.”

“We’re seeing further action in countries with rapidly developing economies and new laws, such as the Philippines and Thailand, but the more consistent growth in competition fine levels will likely come from China and India as anti-trust regulators take more of a role on the international stage.”

The release of the report follows a recent increase in the focus on competition law in the academic space, with a University of Melbourne professor saying Australian legal professionals need to be more aware of the underlying economic principles.

Pictured: Allen & Overy partner Peter McDonald 

Like this story? Read more:

QLS condemns actions of disgraced lawyer as ‘stain on the profession’

NSW proposes big justice reforms to target risk of reoffending

The legal budget breakdown 2017

ACCC to ‘up the ante’ against cartels: report
lawyersweekly logo
Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Scales of Justice
Dec 15 2017
Timing ‘critical’ in unusual contempt of court ruling
A recent case could have interesting implications for contempt of court rulings, according to a Ferr...
Dec 14 2017
International arbitration and business culture
Promoted by Maxwell Chambers. This article discusses the impact of international arbitration on t...
Papua New Guinea flag
Dec 14 2017
World-first mining case launched in PNG
Citizens of Papua New Guinea have launched landmark legal proceedings against the country’s govern...
Allens managing partner Richard Spurio, image courtesy Allens' website
Jun 21 2017
Promo season at Allens
A group of lawyers at Allens have received promotions across its PNG and Australian offices. ...
May 11 2017
Partner exits for in-house role
A Victorian lawyer has left the partnership of a national firm to start a new gig with state governm...
Esteban Gomez
May 11 2017
National firm recruits ‘major asset’
A national law firm has announced it has appointed a new corporate partner who brings over 15 years'...
Nicole Rich
May 16 2017
Access to justice for young transgender Australians
Reform is looming for the process that young transgender Australians and their families must current...
Geoff Roberson
May 11 2017
The lighter side of the law: when law and comedy collide
On the face of it, there doesn’t seem to be much that is amusing about the law, writes Geoff Rober...
May 10 2017
Advocate’s immunity – without fear or without favour but not both
On 29 March 2017, the High Court handed down its decision in David Kendirjian v Eugene Lepore & ...