ComCom says weak Fair Trade Act penalties 'just cost of doing business'

Commerce Commission chair John Small told MPs that penalties in the Fair Trading Act were "manifestly inadequate". (Image: Commerce Commission)

Jem Traylen

Fri, 01 Mar 2024

The Commerce Commission has told parliament the penalties allowed for under fair trading laws were too lenient and a “longstanding frustration” for the regulatory body.At the Commerce Commission’s (ComCom) annual review before a select committee on Thursday, its chair, John Small, told MPs the Fair Trading Act (FTA) passed in 1986 was outdated.He drew their attention to two successful appeals the watchdog had made in 2023 against what it described as “manifestly inadequate” fines imposed under the FTA.The first was...

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