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ARTICLE · 13 DECEMBER 2013

Court dismisses ACCC's price fixing case against ANZ

Clayton Utz
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ANZ has successfully defended itself against ACCC price-fixing allegations in relation to mortgage broking services.

AustraliaAntitrust/Competition Law
Alexia Smyth-Kirk
Alexia Smyth-Kirk
Michael Corrigan
Michael Corrigan
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Key Points:

The ACCC/ANZ case is of interest for companies operating in multi-channel distribution and possibly for principal/agency relationships from a competition law perspective.

After a long battle in the Federal Court, ANZ has successfully defended itself against price-fixing allegations brought by the ACCC in relation to mortgage broking services.

This case involved circumstances in which a lender sought to limit the amount of the discount or rebate of commission that a mortgage broker could offer to borrowers. The Court considered whether the bank and its brokers were competitors in relation to loan arrangement services and whether a limitation on rebating commissions imposed by the bank on brokers amounted to price fixing.

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