Friday, 20 September 2019 Sydney
RSS
Connect
Newsletter

International competition regulators sign new competition framework::

The ACCC has joined the International Competition Network’s ‘Framework on Competition Agency Procedures’ (CAP) alongside more than 60 other global agencies.

The CAP provides a multilateral framework that promotes procedural fairness in relation to the way regulators conduct competition investigations and enforcement.

“This framework promotes cooperation and the exchange of experience between competition authorities around the world on the important issue of procedural fairness,” ACCC Chair Rod Sims said. 

Agencies that sign up to the CAP agree to uphold core principles of procedural fairness in competition law investigations including non-discrimination, transparency and timeliness.

The CAP also encourages cooperation between international counterparts about their respective laws and processes.

“Cooperation with our international counterparts will enhance confidence in competition investigations and enforcement processes that affect businesses and consumers. This includes Australian companies subject to competition investigations in other countries,” Mr Sims said.

The ACCC’s participation in the CAP reinforces its commitment to procedural fairness in its investigations.

Background

The ICN is a virtual network of competition regulators. ICN members work to set best practice standards and procedures for competition policy and enforcement.

The ACCC was a founding member of the ICN and continues to cooperate closely with competition regulators around the world.

The CAP was launched at the Annual Conference of the International Competition Network (ICN) in Cartagena, Colombia, on 15 May 2019. The CAP is open to all competition agencies to join voluntarily. Over 60 competition agencies have already joined the CAP, including some agencies who are not members of the ICN.

The full text of the CAP can be found on the ICN website at https://www.internationalcompetitionnetwork.org/frameworks/