ACCC on a Criminal Cartel Warpath: ANZ, Deutsche Bank, Citigroup and Individuals Charged
Although Australia's Competition and Consumer Act 2010 (Cth) has contained criminal cartel prohibitions since 2009, the Australian Competition and Consumer Commission has now made criminal cartel enforcement one of its top priorities. The ACCC laid its first criminal cartel charges in 2017, and since that time, it has laid charges against big business, small business and individuals.
Companies of all sizes and their executives need to ensure that their conduct does not fall foul of the cartel prohibitions.
This Jones Day White Paper reviews the ACCC's recent prosecution efforts, the increasingly high penalties for those who breach cartel laws, and the defences available to companies and executives seeking leniency for cartel conduct.