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Penalties for breaches of Australian competition and consumer law set to increase
On 18 August 2022, the Commonwealth Government released draft legislation proposing five-fold increases in the maximum penalties that apply to companies …
First custodial sentences for cartel conduct in Australia
Last week, the first custodial sentences were handed down in relation to contraventions of Australia’s criminal cartel laws, with custodial sentences …
Bill proposing civil penalties and other changes to unfair contract terms regime introduced to Parliament
This article was originally published on 3 September 2021 but revised with further updates. On 9 February 2022, legislation amending the unfair contract …
FSR Outlook 2022: Anticipating change, being prepared
Our Financial Services Regulatory (FSR) team surveys the regulatory landscape for 2022 and identifies themes that we expect to be at the core of …
Consumer Data Right: Expanding the CDR regime
On 30 September 2020, the Australian Competition and Consumer Commission (ACCC) released a further consultation paper concerning the continued expansion …
After Hayne – What next for regulatory enforcement in Australia?
With Australian agencies adopting an increasingly robust stance after the Hayne Royal Commission, we scan the FinReg horizon.Chastened by public …
The ACCC pilots its first ‘effect test’ in misuse of market power proceedings
On 6 December 2019, the ACCC launched its first enforcement proceedings under the new ‘effects test’ prohibition on misuse of market power. The …
The ACCC continues its push on personal information
The recommendations in the ACCC’s final report on loyalty schemes have implications for all businesses that collect and use personal informationThe …
2019 Global Bank Review
The 2019 edition of our Global Bank Review: The Data Game, explores the rapid growth of data as one of the most significant developments in the banking …
ACCC’s inquiry into the supply of retail FX services – Final Report
On 2 September 2019, the ACCC released the final report of the ACCC’s inquiry into the supply of foreign currency conversion services (FX services) in …
2019 Chambers Global Practice Guide on Cartels
Herbert Smith Freehills partners Liza Carver and Andrew Eastwood, along with Annalisa Heger and Christine Wong, have authored the Law and Practice …
Renewed regulatory attention on competition in financial services and syndicated lending
Competition and anti-competitive behaviour in financial services is a continuing focus of the Australian Competition and Consumer Commission (ACCC) and …
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