Displaying items by tag: cartels

Waste company Bingo Industries has pleaded guilty to criminal cartel offences relating to price fixing for demolition waste services in Sydney.

New Zealand's competition regulator the Commerce Commission has warned businesses that agreements they reach with their competitors can result in imprisonment, as it undertakes its latest Scene of a Crime education campaign.

The Commonwealth Director of Public Prosecutions (CDPP) has withdrawn charges against Citigroup Global Markets Australia Pty Limited (Citigroup), Deutsche Bank AG and four senior banking executives in relation to criminal cartel allegations arising from an ANZ institutional share placement in August 2015.

Public sector agencies have been warned to be alert to the potential for collusion between bidders during procurement processes, following a recent ACCC investigation where departmental processes contemplated cooperation by competing businesses on government tenders.

New Zealand’s competition enforcement agency, The Commerce Commission, has issued a revised cartel leniency and immunity policy and revised template leniency agreement.

New Zealand’s competition enforcement agency has got tougher on the country’s cartels, with cartel conduct - including price fixing, market allocation and bid rigging - now punishable with a term of imprisonment of up to 7 years.

The Australia and New Zealand Banking Group (ANZ), Citigroup Global Markets Australia, Deutsche Bank and six senior banking executives have all been committed to the Federal Court of Australia for trial on criminal cartel charges.

Australia’s competition regulator the ACCC has strengthened its cartel immunity and cooperation policy – and launched a whistleblower tool to facilitate anonymous reporting of cartel activities.

Australia’s competition watchdog, the Australian Competition and Consumer Commission has inked a new memorandum of co-operation with the United States Federal Bureau of Investigation which it says will strengthen the agencies’ joint efforts in combating cartels and other anti-competitive behaviour.

New Zealand’s competition enforcement agency, The Commerce Commission, has launched an anonymous whistleblowing tool designed to enable people to report cartels without being identified.