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 Outrageous: OZschwitz companies on notice after massive fine

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Outrageous: OZschwitz companies on notice after massive fine Vide
PostSubject: Outrageous: OZschwitz companies on notice after massive fine   Outrageous: OZschwitz companies on notice after massive fine Icon_minitimeWed May 16, 2018 8:31 pm
Australian companies are on notice that penalties for cartel breaches will be significantly higher than in the past, the competition watchdog has warned, in the wake of a landmark $46 million fine against a Japanese car parts giant.

Outrageous: OZschwitz companies on notice after massive fine 67e8d7e0dbe735ebc86bada97bb338e5516a0d5d

The Full Federal Court on Wednesday dramatically upgraded the fine for Japanese company Yazaki Corporation from $9.5 million to a record $46 million following an appeal from the Australian Competition and Consumer Commission against the initial penalty.

The penalty is the biggest ever under Australian competition and consumer law and came after it was found the company had struck illegal arrangements with a competitor, Sumitomo Electric Industries, to co-ordinate quotes to Toyota for the supply of wire harnesses used in Toyota Camrys.

https://www.smh.com.au/business/companies/toyota-supplier-fined-46m-in-australia-s-biggest-ever-cartel-penalty-20180516-p4zfk1.html
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