Australian regulator announced its Compliance and Enforcement Priorities for 2023-2024
Australian Competition and Consumer Commission (ACCC) released the ‘2023-24 Compliance and Enforcement Priorities,’ including protecting vulnerable consumers and a digital platform reform.
On 07 March 2023, the chair of the Australian Competition and Consumer Commission (ACCC) spoke at the Committee for Economic Development of Australia (CEDA) and announced ACCC’s ‘2023-24 Compliance and Enforcement Priorities’. ACCC intends to focus on protecting vulnerable consumers and implementing a digital platform reform.
Regarding protecting vulnerable consumers, ACCC will focus on detecting and preventing scams. It will continue to support establishing the Government’s National Anti-Scams centre and a new economy-wide ban on unfair trading practices.
When it comes to digital platform reform, ACCC is awaiting feedback from the government on its proposal. The regulator will examine issues, including how interconnectedness between the variety of products offered by large digital platforms can restrict interoperability and increase barriers to entry for new entrants. The ACCC will also scrutinise the acquisition strategies of large digital platforms.