ACCC warns construction industry on cartel behaviour
Monday 7 May 2012 @ 2.29 p.m. | Corporate & Regulatory
The competition watchdog has contacted 2,500 building industry executives in the past few weeks, warning them of the potential consequences of engaging in price cartel behaviour.
Australian Competition and Consumer Commission chair Rod Sims revealed the move in
a speech to the Competition Law Conference, saying many businesses are still unaware
that price-fixing or agreeing to restrict supply constituted cartel activity.
Sims also warned the banks about price-signalling ahead of a change to the Competition and Consumer Act that outlaws such practices.
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