Following the Australian Competition and Consumer Commission’s (ACCC) September 2022 Digital Platform Services Inquiry report, and the Albanese Government’s commitment in November to mandatory industry codes regarding scams (consultation closes 29/01/2024) has now announced an in-principle agreement to desperately needed new consumer and competition laws regarding digital platforms.
Currently, the government is requesting that industry form a voluntary internal dispute resolution standard by July 2024 and has made reference to a possible competition framework for digital platforms in answer to the ACCC’s case of a strong need to address anti-competitive behaviours for the benefit of both Australian consumers and Australian businesses.
Consultations for a possible ex ante (preventative) digital competition framework will open in 2024.
For more information please see the ACCC’s media release here and the Assistant Treasurer and Financial Minister’s media release here.