ACCC Compliance and enforcement priorities for 2024-25

The Australian Competition and Consumer (ACCC) has published its 2024–25 compliance and enforcement priorities in relation to the Competition and Consumer Act 2010.

Its enforcement and compliance priorities for 2024-25 relevant to financial services include:

  • Consumer, product safety, fair trading and competition concerns in relation to environmental claims and sustainability.
  • Promoting competition in essential services with a focus on telecommunications, electricity, gas and financial services.
  • Consumer and fair trading issues in the digital economy, with a focus on misleading or deceptive advertising within influencer marketing, online reviews, in-app purchases and price comparison websites.
  • Unfair contract terms in consumer and small business contracts.

The ACCC will give particular consideration to those matters which also have the following factors:

  • conduct that is of significant public interest or concern
  • conduct that results in substantial consumer or small business detriment
  • conduct that has a significant impact on the cost of living
  • national conduct by large traders, recognising the potential for greater consumer detriment and the likelihood that conduct of large traders can influence other market participants
  • conduct or practices that disproportionately targets consumers experiencing vulnerability or disadvantage
  • conduct involving a significant new or emerging market issue or where its action is likely to have an educative or deterrent effect
  • where its action will help to clarify aspects of the law, especially newer provisions of the Act.

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David Jacobson

Author: David Jacobson
Principal, Bright Corporate Law
About David Jacobson
The information contained in this article is not legal advice. It is not to be relied upon as a full statement of the law. You should seek professional advice for your specific needs and circumstances before acting or relying on any of the content.

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