During a Committee for Economic Development of Australia (CEDA) event in Sydney on Friday, Chairman of the Australian Competition and Consumer Commission Rod Sims launched the ACCC’s 2017 Compliance and Enforcement policy, outlining their focus for the current year.
In the sights for the competition and consumer regulator are misleading and deceptive practices, anti-competitive conduct and unfair contract terms affecting small businesses.
Each of the issues outlined above has relevance to marketers; misleading and deceptive conduct and unfair terms for example, are covered under Principles 3 and 5 of the ADMA Code of Practice.
“The ACCC does a lot of educating and working with businesses, large and small, on compliance with laws that are set up to ensure the market economy runs as it should, to the benefit of living standards and household budgets,” Mr Sims said.
“I can foreshadow that we will have a big focus on unfair contracts in 2017, following the introduction of new laws to protect small business in 2016. What that means is that large companies can no longer have unilateral terms in their standard contracts that put small businesses at a significant disadvantage,” Mr Sims said.
Customer guarantees will also be included within the regulator’s scope, including consideration and investigations into practices into a diverse array of industry sectors.
ADMA is committed to educating and informing our members about compliance and regulatory issues.
For assistance or further information, please contact the ADMA Compliance team via email or phone on 02 9277 5400.