find the latest legal job
Insurance Lawyer (3-5 PAE)
Category: Insurance and Superannuation Law | Location: Brisbane CBD & Inner Suburbs Brisbane QLD
· Dynamic organisation ·
View details
Legal Counsel
Category: Corporate and Commercial Law | Location: North Sydney NSW 2060
· 18 month fixed term contract · 3-5 years PQE with TMT exposure
View details
Solicitor - Insurance and Health
Category: Insurance and Superannuation Law | Location: Newcastle NSW 2300
· Dynamic organisation · Outstanding career opportunity
View details
Solicitors Barrister and Registered Migration Agents
Category: Generalists - In House | Location: North Sydney NSW 2060
· We are an established multi-disciplinary practice located in North Sydney. ·
View details
Commercial/Projects Lawyer (4+ PAE)
Category: Corporate and Commercial Law | Location: Sydney CBD, Inner West & Eastern Suburbs Sydney NSW
· Fantastic, supportive working environment · Wide variety of work, direct client contact
View details
ACCC cracking down on cartel conduct

ACCC cracking down on cartel conduct

The number of cartel fines issued in Australia has increased year-on-year despite a global slump, according to a report from Allen & Overy.

Allen & Overy’s latest Global Cartel Enforcement report analyses trends in enforcement of competition law and levels of fines imposed by competition enforcement agencies around the globe.

The report found that Australia’s Competition and Consumer Commission (ACCC) achieved four competition law fines totalling $45.7 million in the first half of 2016.

"On the surface, this appears to be a substantial turnaround for the ACCC, which achieved no fines in 2015," Allen & Overy competition partner Peter McDonald said.

"ACCC chairman Rod Sims assured the market that a number of investigations were underway, which we’ve now seen come to fruition."

This contributed to Asia Pacific being the region with the highest level of fines for the first half of 2016 at more than half a billion dollars and accounting for more than half of all fines globally.

Despite the large Asia Pacific cartel fines, A&O’s report shows global cartel fines are significantly behind where they were this time last year.

So far this year, US$1.1 billion in fines have been levied, down from US$3.17 billion during the same period last year.

Allen & Overy's global co-head of antitrust, John Terzaken, said this is largely due to the cyclical nature of investigations and key enforcers having completed high-profile investigations at the end of last year.

"[The decrease in fines] doesn’t necessarily reflect a drop off of enforcement, but it does reflect the fact that many of the large cases that we saw come down last year have now resolved," Mr Terzaken said.

"It means a number of the more mature regimes like the US are really ramping back up on other investigations, maybe with more to come towards the end of this year."

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

Promoted content
Recommended by Spike Native Network
more from lawyers weekly
Community Legal Centres NSW has welcomed the Australian Law Reform Commission
Jul 28 2017
CLCs welcome Indigenous incarceration inquiry
Community Legal Centres NSW has welcomed the Australian Law Reform Commission’s inquiry into the r...
Jul 27 2017
Legal body commends funding for independent crime stats
The Queensland Law Society has applauded the state government’s commitment to fund a new independe...
Jul 27 2017
Virtual marketplace to bolster lawyers’ skills
An industry-first online symposium and virtual marketplace has issued a call to action to legal prof...
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 & ...