ACCC needs to be regulated: Vertigan panel

ACCC needs to be regulated: Vertigan panel

By Supratim Adhikari

The panel recommends that given the ACCC’s high level of regulatory discretion, decisions of “enduring  impact” and in relation to “access determinations” made by the watchdog should be subject to further regulatory oversight. “The panel is concerned that the wide-ranging discretions that the regime vests in the ACCC mean that the risks and costs of regulatory error are potentially very high with virtually no checks and balances in place to curb any resulting harms,” the report states. “Specifically, decisions in relation to access determinations, anticipatory exemptions and special access undertakings should be subject to full and effective merits review, subject only to the limitations in scope and application required to prevent clearly unnecessary delays to regulatory decisions,” the report states.

Read more here: Business Spectator

    

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