Australia's Competition Regulator Cracks Down On Cartels

Last week, the Australian Competition and Consumer Commission (ACCC) achieved two significant wins in its efforts to stamp out cartel behaviour in Australia.

The first criminal cartel conviction was achieved against Japanese shipping company Nippon Yusen Kabushiki Kaisha (NYK) and, in a civil action, the ACCC succeeded in establishing that Italian corporation, Prysmian Cavi E Sistemi S.R.L. (Prysmian), engaged in cartel conduct, even though such conduct occurred outside Australia.

Australia's cartel provisions

Under Australian competition law, various types of cartel conduct are prohibited, including:

• price fixing whereby companies agree on pricing rather than competing against each other;