ACCC ‘needs divestiture powers’

The consumer watchdog needs court-approve divestiture power in order to punish recalcitrant offenders, according to former ACCC boss Allan Fels. The Australian Competition and Consumer Commission has launched a wave of court actions against major companies over the past year, including the big banks. However, Mr Fels said the regulator needs “better weapons” to combat companies who consistently break consumer law. He told Sky News business behaviour would change if there is a genuine threat an entity “could be broken up” after repeat offending. Image: News Corp

from National | Daily Telegraph https://ift.tt/2Pywgxk