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1 October 2019 - Judgment reserved in Vodafone/TPG case
The trial in the Vodafone/TPG merger case has concluded and judgment reserved. A decision is not expected until at least February 2020.
See case page for more details, including links to relevant media.
30 September 2019 - Revised cartel immunity and cooperation policy commences tomorrow
Commencing 1 October 2019 the ACCC immunity and cooperation policy for cartel conduct sets out the ACCC's approach to immunity applications and how cooperation will be recognised.
See ACCC immunity & cooperation policy for cartel conduct - October 2019.
30 September 2019 - Sims speech: The dangers of monopolists without constraints
ACCC Chairman, Rod Sims, has addressed the Australasian Transport Research Forum today, speaking on a range of subject issues.
See ACCC, 'The dangers of monopolists without constraint' (Media release, 30 September 2019) and Rod Sims, 'ACCC perspectives on transport issues' (address at the Australasian Transport Research Forum, 30 September 2019).
26 September 2019 - ACCC does not oppose Saputo cheese deal with Lion
The ACCC 'will not oppose the proposed acquisition of Lion Dairy & Drinks' Tasmanian-based cheese business by Saputo Dairy Australia', finding that on balance it will not be likely to have the effect of substantially lessening competition.
See ACCC, 'Saputo cheese deal with Lion not opposed' (Media Release, 26 September 2019) and Saputo Dairy Australia Pty Ltd - Lion Dairy and Drinks Pty Ltd's cheese business (Merger Register).
26 September 2019 - ACCC raises preliminary concerns over sale of RMS Tasmanian forestry assets
'The ACCC has raised preliminary competition concerns about the proposed sale of the Tasmanian forestry assets of Resource Management Service LLC'. It is reviewing two prospective buyers of the RMS assets. Its concern is that the acquisitions could 'impact the viability of competing export channels for hardwood plantation chips in northern Tasmania, which could lower prices paid to private growers of plantation logs'.
See ACCC, 'Concerns about sale of RMS Tasmanian forestry assets' (Media Release, 26 September 2019).
20 September 2019 - ACCC reportedly pushing for criminal prosecution against BlueScope
It has been reported that the ACCC is pushing for a criminal prosecution against BlueScope and former senior representatives in relation to alleged cartel conduct, with the CDPP considering a brief of evidence to decide whether to prosecute; a decision is anticipated by the end of October.
See Sarah Danckert and Yan Zhuang, 'BlueScope execs toured world trying to form carrot-stick cartel: ACCC claims'(SMH, 18 September 2019), Patrick Durkin and Simon Evans, 'ACCC seeking criminal case against BlueScope' (AFR, 20 September 2019), Simon Evans, Patrick Durkin and Natasha Gillezeau, 'The secret 'weapon' used by steelmakers to hit rivals' (AFR, 20 September 2019), Partick Durkin and Simon Evans, 'ACCC digs deeper on BlueScope criminal cartel' (AFR, 26 September 2019),
See also ACCC, 'Action against BlueScope for alleged cartel conduct' (Media Release, 30 August 2019) and Patrick Hatch, 'BlueScope and flurry of cartel cases signal a 'new era', says Fels' (SMH, 2 September 2019).
18 September 2019 - ACCC concerned about lack of competition in retail banking
ACCC Chairman, Rod Sims, has expressed concern about a lack of competition in retail banking and stated that he would be speaking to the Treasurer about the scope of the next regular ACCC inquiry into the sector.
See Clancy Yeates, 'ACCC eyes fresh competition inquiry into big banks' (SMH, 18 September 2019) and John Kehoe, 'Liberals reject ACCC bank inquiry' (AFR, 18 September 2019).
13 September 2019 - IP exemption is history
The IP exemption in s 51(3) of the Competition and Consumer Act has now been repealed. See Guidelines on the repeal of subsection 51(3) of the Competition and Consumer Act 2010 (Cth) (August 2019).
See also Lisa Huett and Scott Bouvier, 'Time's up for review of IP licensing arrangements' (King&Wood Mallesons, 10 September 2019), Jacqueline Downes, 'ACCC contemplates broader powers; new guidance on the IP exemption repeal; and the final word on foreign currency conversion services' (Allens >< Linklaters, 9 September 2019) and DLA Piper, 'Don't get caught out: Intellectual property arrangements will be susceptible to prosecution for anti-competitive conduct from 13 September 2019' (12 September 2019).
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12 September 2019 - ACCC does not oppose Elders and AIRR rural services deal
The ACCC will not oppose the proposed acquisition of Australian Independent Rural Retailers by Elders. The ACCC considered the potential for vertical integration concerns, but noted that market feedback 'suggested that most independent retailers consider they have sufficient alternative supply options if Elders attempted to discriminate against them'.
See ACCC, 'Elders and AIRR rural services deal not opposed' (Media Release, 12 September 2019) and Elders Ltd proposed acquisition of AIRR Holdings Ltd Mergers Register.
See also AAP, 'Elders makes $187m takeover bid for AIRR' (SMH 15 July 2019)
5 September 2019 - ACCC opposes Jewel Fine Foods/B&J City Kitchen deal
The ACCC has opposed the proposed acquisition of Jewel Fine Foods by B&J City Kitchen. ACCC Chair, Rod Sims, stated that the ACCC believed the proposed acquisition would be 'likely to substantially lessen competition for the supply of chilled ready meals' as it would 'combine the two major players in this market, concentrating most of the manufacturing capacity of chilled ready meals in one business'.
See ACCC, 'ACCC opposes chilled ready meals deal' (Media release, 5 September 2019)
4 September 2019 - Court dismisses ACCC's appeal in Cascade Coal case
The Federal Court has dismissed the ACCC's appeal in the Cascade Coal cartel case
See Australian Competition and Consumer Commission v Cascade Coal Pty Ltd (No 3) [2018] FCA 1019
23 August 2019 - Global shipping company, Wallenius Wilhelmsen Ocean AS, charged with criminal cartel conduct
The CDPP has laid charges against Wallenius Wilhelmsen Ocean AS (WWO), a Norwegian-based global shipping company, alleging criminal cartel conduct. First mention is listed for 29 August.
22 August 2019 - ACCC does not oppose Landmark's proposed acquisition of RuralCo
The ACCC has not opposed Landmark's proposed acquisition of Ruralco.
See ACCC media release and merger register.
15 August 2019 - ACCC raises concerns about Emergent Cold's proposed acquisition of Oxford
The ACCC has released a statement of issues outlining preliminary competition concerns about Emergent Cold's proposed acquisition of Oxford. The merger would reduce the number of large Victorian suppliers of cold storage services from four to three.
See ACCC, 'Concerns about Emergent, Oxford cold storage deal' (Press Release, 15 August 2019) and Emergent/Oxford merger register.
13 August 2019 - Rod Sims speaks to Melbourne Press Club on the Digital Platforms Inquiry
ACCC Chair, Rod Sims, delivered an address to the Melbourne Press Club about the Digital Platforms Inquiry. The focus is, naturally enough, recommendations relating to media, but it includes some broader discussion about the core recommendations and about ongoing investigations into Facebook and Google.
See Rod Sims, 'The Digital Platforms Inquiry: Melbourne Press Club speech' (Melbourne Press Club, 13 August 2019). See accompanying ACCC media release.
8 August 2019 - ACCC raises concerns about Saputo's proposed acquisition of Lion Dairy & Drinks' cheese business
The ACCC has published a statement of issues outlining preliminary competition concerns about Saputo's proposed acquisition of Lion Dairy & Drinks' cheeses business. Submissions invited until 22 August 2019. Proposed final announcement 26 September 2019.
View ACCC media release and merger public register for more detail.
See also Darren Gray, 'Lion Dairy and Drinks Pty Ltd's' (SMH, 8 August 2019)
8 August 2019 - ACCC raises concerns about Bis Industries' proposed acquisition of Cougar
The ACCC has published a statement of issues outlining preliminary competition concerns about Bis Industry Holdings Ltd's proposed acquisition of Cougar Mining Group Pty Ltd. Submissions invited until 23 August 2019. Proposed final announcement 24 October 2019.
View ACCC media release and merger public register for more detail.
7 August 2019 - Why privacy matters - concealed data practices and competition law
Katharine Kemp's new research paper is now available to download at SSRN:
5 August 2019 - ACCC does not oppose Wesfarmers Ltd proposed acquisition of Catch
The ACCC has announced it will not oppose the proposed acquisition of Catch Group by Wesfarmers.
See ACCC, 'ACCC won’t oppose Wesfarmers’ proposed acquisition of Catch' (5 August 2019)
2 August 2019 - K-Line convicted and fined for criminal cartel conduct
Kawasaki Kisen Kaisha Ltd (K-line) has been convicted of criminal cartel conduct and ordered to pay a fine of $34.5million.
On 5 April 2018 K-Line pleaded guilty to cartel conduct and a sentencing hearing was held on 15 November 2018 before Justice Wigney.
The maximum penalty available was $100m, with discounts given for an early guilty plea and cooperation. It is the second criminal fine imposed for cartel conduct, the first was for $25m against NYK (in relation to the same cartel) in 2017.
View ACCC media release.
View Federal Court judgment.
1 August 2019 - Consultation on Digital Platforms Inquiry final report
Yes, another consultation - the Government now inviting submissions on the final report of the Digital Platforms Inquiry.
See ACCC Digital Platforms Inquiry consultation page for further details.
1 August 2019 - ACCC proposes to authorise New Energy Tech consumer code
The ACCC is proposing to authorise a new consumer code for retailers of certain energy products and services.
See ACCC media release for further details.
31 July 2019 - Digital Platforms Report - mlex podcast
James Panichi and Laurel Henning have put together a podcast with a rundown of the 23 recommendations in the ACCC's Digital Platforms Report.
See 'Australia Finalises Landmark Facebook, Google Report' (mlex podcast, 31 July 2019) (22.57mins)
29 July 2019 - ACCC consults on proposed Landmark divestitures
The ACCC is consulting on a proposed undertaking offered by Nutrien in relation to its proposed acquisition of Ruralco which would require Landmark to divest three rural merchandise stores.
See ACCC media release for further details.
26 July 2019 - Digital Platforms Report released
The Digital Platform Report has now been released to the public.
It can be found on the ACCC website.
Treasurer, Josh Frydenberg, stated that the Government 'accepts the ACCC’s overriding conclusion that there is a need for reform - to better protect consumers, improve transparency, recognise power imbalances and ensure that substantial market power is not used to lessen competition in media and advertising services markets' and further that the Government 'accepts that there is a need to develop a harmonised media regulatory framework'.
Before a detailed Government response is provided a further consultation process will take place. It will run for 12 weeks, after which the Government intends to release its response (by the end of 2019).
See the Treasurer's media release.
See also ACCC media release on the final report.
Further details to follow on Digital Platforms page.
26 July 2019 - Report on its way
The Digital Platform Report is being released today ...
See Digital Platforms page for more detail.
The Australian reports that the government will delay a formal response because it requires more time for 'stakeholder consolation'. Katherine Kemp has expressed hope that this is a typo, but perhaps not ...
Hopefully it's stakeholder consultation, not "stakeholder consolation", the Aus govt is planning after release of ACCC Digital Platforms Inquiry Final Report today @competitionlaw @CPRC_research @DigCitzCon @CaronBW @UNSWAllensHub #dpireport #digitalplatforms #accc pic.twitter.com/PuNhg92Tuq
— Dr Katharine Kemp (@Katharine_Kemp) July 25, 2019
See, eg, Fergus Hunter and Jennifer Duke, 'Government to hand down landmark tech report amid global anticipation' (SHM, 25 July 2019), Simon Benson and Leo Shanahan, 'Tech giants to face shake-up' (The Australian, 26 July 2019, p 8) and Jack Derwin, 'The Australian government is dropping its big report into big tech today — here’s what it could mean for Google and Facebook' (Business Insider, 26 July 2019)
25 July 2019 - ACCC raises concerns about ANZ Terminals, Graincorp deal
The ACCC has released a statement of issues raising concerns about ANZ Terminals' proposed acquisition fo GrainCorp Liquid Terminals Australia Pty Ltd.
See ACCC media release.
See merger register.
See also Mathew Dunckley, 'ACCC pumps brakes on GrainCorp's $350m terminal deal' (SMH, 25 July 2019)
4 July 2019 - Stephen Ridgeway appointed
Former King & Wood Mallesons partner, Stephen Ridgeway, has been appointed as a Commissioner at the ACCC for a period of five years.
Mr Ridgeway replaces Mr Featherson who stepped down this month after a five year term.
See ACCC media release.
30 June 2019 - ACCC hands digital platforms inquiry report to the government
The ACCC has handed the digital platforms inquiry report to the government.
It is not yet known when the report will be released.
Image: By Tjbulic (Own work) [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)], via Wikimedia Commons
27 June 2019 - ACCC appeals Pacific National - Aurizon merger decision
The ACCC has lodged an appeal against the Federal Court's decision to dismiss the ACCC's proceedings in relation to Pacific National's acquisition of the Acacia Ridge Terminal in Brisbane.
The Federal Court had held that the merger would have substantially lessened competition but for a behavioural undertaking offered by Pacific National on the final day of the hearing.
View media release.
View my case page.
24 June 2019 - ACCC has preliminary concerns about AP Eagers' proposed acquisition of AHG
The ACCC has indicated it has preliminary concerns about AP Eagers' proposed acquisition of shares in Automotive Holdings Group. The ACCC is currently assessing an application for merger authorisation from AP Eagers.
Further market feedback is sought by 3 July 2019. A final decision is expected by 26 July 2019.
View media release.
22 June 2019 - Brent Fisse on Aurizon Behavioural Undertaking
Brent Fisse has posted a critique of the Aurizon Behavioural Undertaking: see Brent Fisse, Aurizon Behavioural Undertaking - Critique (22 June 2019).
Spoiler: Fisse concludes that:
'Undertakings like that accepted in the Aurizon decision seem unsatisfactory. They rely heavily on the discretion of dominant market participants and little ont eh constraint of market forces. They lack monitoring and enforcement by the ACCC. ...'
21 June 2019 - ACCC releases draft guidelines on repeal of s 51(3)
The ACCC has released draft guidelines on the repeal of ss 51(3) for consultation. The repeal of the IP rights exemption in this provision will take effect from 13 September 2019.
View media release.
13 June 2019 - ACCC revokes RPM notification
The ACCC has issued a final notice revoking a resale price maintenance notificatoin lodged by Meredith Dairy, with Commissioner Mick Keogh saying:
"In our view, the proposed conduct would have led to consumers paying higher prices for Meredith Dairy’s goat cheeses, and would have limited the ability of delicatessens and other small retailers to compete with big chains ... In turn, it would have meant less competitive pressure on major supermarket chains to offer low prices."
This follows the ACCC's draft proposal to revoke on 1 May 2019.
See media release.
See RPM register.
13 June 2019 - ACCC raises concerns about Landmark's proposed acquisition of RuralCo
The ACCC has released a Statement of Issues raising preliminary concerns about Landmark's proposed acquisition of Ruralco.
Submissions from interested parties are due by 27 June 2019 with a final decision scheduled for 15 August.
See media release.
See merger register.
See also, Brad Thompson, 'ACCC casts cloud over Ruralco takeover' (AFR, 13 June 2019) and 'ACCC scrutinises proposed Landmark/Ruralco deal' (Sheep Central, 13 June 2019).
13 June 2019 - ACCC does not oppose Liberty's proposed acquisition of Steelforce
The ACCC has announced it will not oppose the proposed acquisition of Steelforce Holdings Pty Ltdby GFG Alliance Australia.
See media release.
See merger register.
11 June 2019 - Godfather leaves ACCC ...
John Durie has an piece in today's Australian discussing the imminent departure of ACCC Mergers Commissioner, Roger Featherston, after seven years at the ACCC, five as Commissioner.
See John Durie, 'Competition 'Godfather' Roger Featherston leaves ACCC' (The Australian, 11 June 2019) (subscription only - or paper version: John Durie, ''Godfather' leaves ACCC' (The Australian, 11 June 2019, page 25))
6 June 2019 - ACCC seeks feedback on collective bargaining plan for small businesses
The ACCC is seeking views on a proposal to implement a class exemption to allow small business to collectively negotiate with suppliers and processes and for franchisees and fuel retailers to collectively negotiate with their franchisor or fuel wholesaler. Although proposed to be subject to turnover limits, the ACCC suggests this would cover around 98.5% of Australian businesses.
The ACCC has released:
- Proposed legislative instrument
- Related documents
(includes draft guidance, draft collective bargaining class exemption notice, discussion paper (August 2018) and submissions on discussion paper)
4 June 2019 - Podcast on mergers in Australia
mlex's James Panichi and Laurel Henning have released a new podcast the Australia's merger laws - focussing on Pacific National but also discussion Vodafone/TPG and the move to change merger laws in relation to digital mergers.
Listen or download here:
M&A law at heart of Australian competition regulator’s courtroom woes (mlex, 4 June 2019)
'Australian merger law is under renewed scrutiny as the country’s competition regulator fights to make its voice heard by Federal Court judges. The Australian Competition & Consumer Commission and Federal Court of Australia are at odds when it comes to trusting undertakings offered up by companies seeking approval for merger deals and the ACCC’s mistrust is leading it to consider recommending carving out new M&A measures for digital platforms this month.'
30 May 2019 - Garuda ordered to pay $19 for its role in the global air cargo cartel
The Federal Court has ordered Garuda to pay penalties of $19 million for price fixing in relation to fees and surcharges for air freight services.
The penalty ruling comes almost 10 years after the matter was first filed in the Federal Court.
See ACCC, 'Garuda ordered to pay $19 million for price fixing' (Media Release, 30 May 2019).
See Australian Competition and Consumer Commission v PT Garuda Indonesia Ltd (Remedies) [2019] FCA 786
27 May 2019 - Class action cartel suit launched against investment banks
In a private cartel class action announced by Maurice Blackburn, five investment banks have been accused of operating a foreign exchange cartel between 2008-2013. The banks at the centre of the action are Citibank, UBS, JP Morgan, Barclays and RBS.
See Maurice Blackburn, 'Big bank in the gun with new forex cartel class action' (27 May 2019).
See Sarah Danckert, 'Hunting 'the Mafia': Big investment banks face Australian cartel claim' (SMH, 27 May 2019), David Chau, 'Citibank, UBS, JP Morgan, Barclays and RBS sued for rigging currency exchange rates' (ABC news, 27 May 2019), Peter Ryan, 'Five global banks face class action over exchange rate collusion' (ABC, The World Today, 27 May 2019) (audio, including with Maurice Blackburn principal lawyer Kimi Nishimura), Peter Vercoe, 'Citi, JPMorgan, UBS Face Forex Cartel Class Action in Australia' (Bloomberg, 27 May 2019), Byron Kaye, 'FX collusion scandal reaches Australia, class action launched' (Reuters, 27 May 2019)
27 May 2019 - Vodafone launches court action following ACCC's opposition of proposed merger with TPG
On Friday (24 May) Vodafone launched a court action against the ACCC following the ACCC's announcement earlier in the month that it would oppose the proposed merger with TPG.
See case page for more details, including links to relevant media.
For the ACCC review of the proposed merger see:
25 May 2019 - Sims speaks on the challenges of dealing with strategic acquisitions of nascent firms
ACCC Chair, Rod Sims, spoke at today's Competition Law Conference on the challenges of analysing competitive effects of conduct of multi-sided platforms and the challenges digital platforms pose for the effective application of merger laws.
See also Paul Sakkal, 'ACCC calls for laws to block Facebook and Google eliminating competitors' (SMH, 25 May 2019) and Paul Wallbank, 'ACCC head warns Facebook and Google over merger activities ahead of final Digital Platforms report' (Mumbrella, 26 May 2019).
24 May 2019 - Full Federal Court dismisses ACCC appeal in laundry detergent case
The Fulll Federal Court (Justice Middleton, Justice Perram and Justice Bromwich) has dismissed an appeal by the ACCC against a finding that there was insufficient evidence to find PZ Cussons had engaged in cartel conduct in relation to the supply of certain laundry detergents.
See ACCC, 'Appeal in laundry detergent cartel case unsuccessful' (Media Release, 24 May 2019) (reasons for judgment not yet available)
The original proceedings arose following an immunity application by Unilever. Colgate and Woolworths admitted involvment; Colgate was ordered to pay penalties of $18m and Woolworths was ordered to pay $9m.
23 May 2019 - Judgment to be delivered in ACCC v Colgate-Palmolive tomorrow
The Federal Court has listed ACCC v Colgate-Palmolive for judgment tomorrow. The case was heard in August last year before Justice Middleton, Justice Perram and Justice Bromwich; judgment was reserved on 22 August 2018.
The case relates to the ACCC's appeal against the decision involving PZ Cussons Australia Pty Ltd. The ACCC alleged Cussons had engaged in cartel conduct with other laundry detergent manufacturers in relation to the supply of certain laundry detergents. In December 2017 the Federal Court dismissed the ACCC's claim. The ACCC subsequently appealed the decision.
The original proceedings arose following an immunity application by Unilever. Colgate and Woolworths admitted involvment; Colgate was ordered to pay penalties of $18m and Woolworths was ordered to pay $9m.
Image: By Tjbulic (Own work) [CC BY-SA 4.0 (https://creativecommons.org/licenses/by-sa/4.0)], via Wikimedia Commons
15 May 2019 - Court dismisses ACCC's proceedings against Pacific National and Aurizon
The Federal Court has dismissed the ACCC's proceeding against Pacific National and Aurizon, relating to control of Acacia Ridge Terminal.
The Court indicated it would have found the proposed acquisition had the likely effect of substantially lessening competition had it not been for an undertaking offered to the Court on the last day of the hearing. The ACCC had rejected a similar undertaking proposed during its review process on the basis that 'it would not protect potential entrants from discriminatory conduct in the terminal’s day-to-day operations under Pacific National ownership or the operating agreement.'
The ACCC is considering the judgment. See my case page.
See
- ACCC, 'Court dismisses ACCC proceedings opposing rail freight consolidation' (Media Release, 15 May 2019)
- Merger register, Pacific National Pty Ltd / Linfox - proposed acquisitions of Intermodal assets from Aurizon (opposed 19 July 2018)
See also Jenny Wiggins, ''We have a problem': ACCC's Rod Sims says merger laws need a rethink' (AFR, 15 May 2019), Patrick Hatch, ''We’ve got a problem': Sims questions laws after rail go-ahead' (AFR, 15 May 2019), 'Is the mergers test broken?' (Chanticleer, AFR, 16 May 2019) and Charles McConnell, 'Court accepts rail remedy that ACCC rejected' (GCR, 15 May 2019).
14 May 2019 - ACCC opposes proposed TPG-Vodafone merger
There has been plenty of media following the ACCC's announcement that it would oppose the proposed merger between TPG Telecom Ltd and Vodafone Hutchison Australia Pty Ltd.
Mlex reporters, James Panichi and Laurel Henning have a new podcast discussing the issues.
'TPG-Vodafone merger suffers $700 million setback' (mLex, 9 May 2019, 17.25min)
See also:
- ACCC Merger register (TPG Telecom Limited (TPG) - proposed merger with Vodafone Hutchison Australia Pty Ltd (VHA))
- James Panichi, 'Premature release of Vodafone Hutchison-TPG merger decision ‘deeply embarrassing,’ Australian competition chief says' (mLex, 8 May 2019)
- Laurel Henning and James Panichi, 'Vodafone Hutchison's TPG Telecom acquisition blocked as regulator slams 5G rollout decision' (mLex, 8 May 2019)
- Jennifer Duke, '‘Missed the point’: Top law firm backs block of TPG-Vodafone merger' (SMH, 13 May 2019)
- Patrick Durkin, 'ACCC needs smoking gun on merger block' (AFR, 10 May 2019)
- Elizabeth Knight, 'Thanks, Rod! ACCC telco merger veto makes Telstra an accidental winner' (11 May 2019)
- James Fernyhough, 'Rod Sims plays poker with David Teoh' (AFR, 10 May 2019)
- John Durie, 'Upstart might be forced to resume its network rollout' (The Australian, 10 May 2019, p 32)
8 May 2019 - ACCC opposes proposed TPG-Vodafone merger
The ACCC had announced that it had decided to oppose the proposed merger between TPG Telecom Ltd and Vodafone Hutchison Australia Pty Ltd. In its media release the ACCC highlighted the already 'very concentrated mobile servies market' and concentrated 'fixed broadband market' and stated that it considered the prposed merger would 'reduce competition and contestability in this sector'; in particular it would 'precluded TPG entering as the fourth mobile network operator in Australia'.
The parties have indicated they will challenge the decision. James Panichi (mlex), reports that Rod Sims is 'seriously relaxed' at the prospect of the decision to oppose being challenged in the Federal Court: view James Panichi tweet.
View ACCC, 'ACCC opposes TPG-Vodafone merger' (Media release, 8 May 2019).
See also James Fernyhough, 'ACCC blocks Vodafone, TPG merger' (AFR, 8 May 2019) and Jennifer Duke, ''Embarrassing' blunder: ACCC blocks Vodafone and TPG Telecom merger' (SMH, 8 May 2019) and Stephen Letts, 'TPG share price crashes as ACCC blocks Vodafone merger' (ABC, 8 May 2019).
1 May 2019 - The joys of ex ante assessment
mlex reporter, James Panichi, has piece out today discussing 'future-focused' regulation to keep up with tech mergers - an in particular, to deal with acquisitions of 'potential competitors'.
1 May 2019 - ACCC proposes to revoke RPM notification
The ACCC has issued a draft notice proposing to revoke a resale price maintenance notification lodged by Meredith Dairy. The RPM conduct notified would prevent retailers selling its goat cheese products below a specified price.
ACCC Commissioner, Roger Featherston, said that the ACCC did not consider the conduct would result in a net public benefit.
See ACCC, 'Meredith Dairy proposal to set minimum prices raises competition concerns' (1 May 2019)
1 May 2019 - ACCC reviews first merger authorisation application
The ACCC is assessing its first merger authorisation application since reclaiming the power to do so following the Harper reforms. The application involved a proposed acquisition by AP Eagers Limited of Automotive Holdings Group Limited (the two largest automative retailers in Australia)
See ACCC, 'ACCC reviews first merger authorisation application' (1 May 2019)
See further Simon Evans, 'AP Eagers moves up a gear in AHG takeover' (AFR, 1 May 2019)
1 May 2019 - Too many corporate mergers?
Professor Caron Beaton-Wells has an opinion piece in today's The Conversation discussing whether too many corporate mergers are harming consumers.
1 May 2019 - Disrupting competition law: do digital markets require new legal tools?
What does the growth of digital markets mean for competition law and policy? See Professor Caron Beaton-Wells, 'Disrupting competition law: do digital markets require new legal tools?'
Keep an eye out for more information on this topic at the CPI conference page for yesterday's 'Dynamic Competition in Dynamic Markets: A Path Forward' conference. For those that could not attend or missed the live stream, you'll find some more detail here.
30 April 2019 - Dynamic Competition in Dynamic Markets: A path Forward
Terrific CLEN/CPI conference today at Melbourne Law School on dynamic competition in dynamic markets, headlined by Prof Philip Marsden.
View CPI conference page and MLS-CLEN page for details.
For related stories and papers see:
- Yolanda Redrup, 'Facebook, Google are not publishers, says US antitrust expert' (AFR, 29 April 2019)
- Howard Shelanski, 'Is fining big tech companies the most effective way to protect users?' (ABC, RN Breakfast with Fran Kelly)
- Patrick Durkin, 'Facebook and Google have no excuse, warns ACCC' (AFR, 30 April 2019)
- Philip Marsden, 'Leave, Remain & Common Ground: Pragmatism in Dealing with Tech Giants' (CPI April 2019)
For reports discussed see:
23 April 2019 - Panichi: The revenge of Billy Hughes
James Panichi has published an article on Australia's new criminal cartel laws, including discussion of the first criminal prosecution against individuals, recently committed for trial in the Fedearl Court. A must read for those interested in Australia's cartel laws.
See James Panichi, 'The revenge of Billy Hughes' (Inside Story, 23 April 2019).
15 April 2019 - Interagency cooperation agreement between ACCC and FBI
The ACCC and US FBI have signed a new memorandum of cooperation (MOC) to 'strengthen the agencies' joint efforts in combating cartels and other anti-competitive behaviour'.
The MOC 'provides for the exchange of expertise and staff between the two agencies to enhance work in the detection, investigation and prosecution of criminal competition offences'.
See ACCC, 'ACCC and FBI sign inter-agency cooperation agreement' (15 April 2019)
11 April 2019 - Charges laid in relation to alleged forex price fixing cartel
Criminal cartel charges have been laid 'against a money tranfer business and five individuals for allegedly fixing the Australian dollar / Vietnamese dong exchange rate and fees they charge their customers'. This relates to exchange rates and fees charged between 2011 to 2016.
Charges were filed in the Magistrates' Court of Victoria. The committal mention has been set for July 18.
See ACCC, 'Charges laid against alleged forex price fixing cartel' (Media Release, 11 April 2019).
See also:
9 April 2019 - ACCC preparing guidelines following removal of IP exemption
The ACCC has advised that it is drafting guidelines on the application of Part IV of the CCA to intellectual property following the removal of the exemption in s 51(3) that will commence on 13 September 2019.
See ACCC update.
5 April 2019 - Caron Beaton-Wells appointed to Australian Competition Tribunal
Treasurer, Josh Frydenberg MP, today announced the appointment of Professor Caron Beaton-Wells as a lay member of the Australian Competition Tribunal for a period of five years.
Professor Beaton-Wells is Director of the Competition Law and Economics Network and the Global Competition and Consumer Law Program at the University of Melbourne. She will join Mr RF Shogren, Mr R Steinwell, Dr D Abraham and Prof K Davis as the other lay members of the Tribunal which is presided over by Justice John Middleton.
4 April 2019 - ACCC's budget
The Treasury Portfolio budget statement on the ACCC is available here (PDF).
The papers show total departmental resourcing up from $250.7 million to $285.5 million and average staffing numbers up from 964 to 1,022 (total new departmental appropriations up from $210m to $235.1m).
Expenditure in relation to outcomes and planned performance is set out from page 83 of the document (the document itself is 24 pages, with numbering forming part of a broader portfolio document).
Outcome 1: Lawful competition, consumer protection, and regulated national infrastructure markets and services through regulation, including enforcement, education, price monitoring and determining the terms of access to infrastructure services.
Performance criteria for outcome 1 is set out in Table 2.2 and includes:
- Target of 6 competition enforcement interventions (court proceeding commenced, s 87B undertaking accepted, admin resolutions)
- Target of 80% of merger matters considered finalised by pre-assessment
- Target of 100% of authorisation applications assessed within statutory timeframes
- Target of 40 Australian Consumer Law enforcement interventions
- [various other consumer, regulatory and monitoring targets]
- Target of 3 completed market studies and inquiries.
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