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

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
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before a select committee on Thursday, its chair, John Small, told MPs the Fair Trading Act (FTA) passed in 1986 was outdated.He drew their attention to two successful appeals the watchdog had made in 2023 against what it described as “manifestly inadequate” fines imposed under the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...

More Policy

Fast-track friction over Ōrewa housing development
Policy

Fast-track friction over Ōrewa housing development

Watercare says it may not service the proposed 1200-home development.

Oliver Lewis 11 Jul 2025
Reforms could give too much power to banks
Policy

Reforms could give too much power to banks

The fees could kill off the fintech sector, warns Sam Stubbs.

Greg Hurrell 10 Jul 2025
KiwiRail seeks to recover costs with new user charges
Policy

KiwiRail seeks to recover costs with new user charges

The rail operator is introducing new Interislander and container terminal charges.

Oliver Lewis 09 Jul 2025
Critic says Govt 'missing the point' on AML
Finance

Critic says Govt 'missing the point' on AML

Critic says problems with AML/CFT come down to how rules have been interpreted.

Dileepa Fonseka 08 Jul 2025