There are different agencies that regulate the Australian Consumer Law (ACL):
- Australian Competition and Consumer Commission (ACCC) deals with national issues affecting trade and business.
- State and territory consumer protection agencies manage issues with businesses that operate within their own state or territory.
- Australian Securities and Investments Commission (ASIC) is responsible for making sure the rules for financial products and services are followed in the Australian Securities and Investments Commission Act 2001.
Memorandum of Understanding
All consumer regulators in Australia have signed a Memorandum of Understanding.
This is an agreement on how they will work together to manage and enforce the ACL.
New Zealand’s Ministry of Business, Innovation and Employment and Commerce Commission are also part of this agreement. This shows the close connection between the Australian and New Zealand markets.
The Australian Government introduced the consumer data right (CDR) to give consumers greater control over their data.
To read, see Memorandum of Understanding
Compliance
ACL regulators aim to make sure everyone follows the law.
One of the main roles of regulators is to give information and advice to consumers and businesses. So that everyone knows their rights and responsibilities and how to get help if needed.
Regulators also collect market information to:
- understand the market better
- keep track of consumer and business experiences and
- spot any new issues.
Enforcement
For the law to be effective, there needs to be a range of enforcement options if a business doesn’t follow the rules or seriously breaks the ACL.
ACL regulators have civil, administrative and criminal enforcement tools they can use based on the situation.
These enforcement actions range from issuing warnings or fines to taking legal action in the courts.
In addition to actions by regulators, the ACL is enforced by courts and tribunals across Australia.
This can be through regulators taking action in court or individuals and companies going to a court or tribunal to get a solution to a dispute.
The Commonwealth, states and territories each handle cases in their manner according to their respective rules and procedures.
Guide
Compliance and enforcement – How regulators enforce the Australian Consumer Law
Covers the ACCC, ASIC and the state and territory consumer protection agencies’ compliance and enforcement approach to administer the Australian Consumer Law.
To read and download the guide, visit ACCC’s Compliance and enforcement – How regulators enforce the Australian Consumer Law