A new study examines how tradable rights in regulated markets derive value not just from immediate use, but from the strategic flexibility they provide firms over time. Using New Zealand's quota fisheries as a case study, researchers demonstrate that rights with longer tenure command premium prices by allowing firms to optimize harvest decisions based on market conditions.

A discussion document provided for a review of the act and considered Fonterra's role in the New Zealand dairy industry.

The Ministry of Consumer Affairs (Ministry) has released a discussion document on the redress and enforcement provisions contained in the Fair Trading Act 1986 and the Consumer Guarantees Act 1993.

The NZ government is conducting a targeted review of competition laws, including the misuse of market power prohibition.

The Productivity Commission has weighed in behind the Commerce Commission's campaign to unseat the counterfactual test.

Efforts to criminalise cartel behaviour have been divided, as some consider it may deter efficient, legitimate conduct.

Leniency programmes offer discounted fines to parties who confess their anti-competitive behaviour and cooperate.

Simon Power, the Minister of Commerce, yesterday announced the release of a discussion document on the introduction of criminal penalties (including imprisonment) for those guilty of participation in cartels. The Minister's announcement follows the recent criminalisation of cartel conduct in Australia - the relevant reforms coming into effect over the Tasman on 24 July last year.

Pricing concerns were responsible for the largest number of complaints to the Commerce Commission last year.

Last month the Court of Appeal upheld the decision of the High Court in the latest round of the Koppers Arch litigation. The case is important because it considers when the Court will have jurisdiction to consider Commerce Act proceedings against overseas based defendants.

The momentum for a review of section 36 of the Commerce Act is building, with a Productivity Commission recommendation.

New Zealand is likely to follow suit as the Commerce Commission has been pushing for similar changes to competition laws.

How the new Act is applied, particularly the exemption for collaborative activities, will be key.

The Government proposes to make illegal a lot more of the actions of a firm that has substantial power in a market.

The Nationals promise a wide-ranging overhaul of New Zealand's competition law as part of its Business Growth Agenda.

In this issue: Record Fine for Cartel Activities, Proposed Bus Acquisition and the Commerce Act, Prohibition Against Resale Price Maintenance Bites

The Full Court of the Federal Court of Australia has twice found against the ACCC in significant price-fixing appeals.

The clearance and authorisation provisions under the Commerce Act.

The article identifies trends from the Commission's track record, then looks in detail at three recent "no" decisions.