Aussie Execs Now Face Jail Time For Price-Fixing

Law360, New York (July 24, 2009, 3:10 PM EDT) -- Australian company executives convicted of colluding with competitors now face the prospect of jail time under tough new rules that went into effect Friday.

The amendments to the Trade Practices Act mean serious cartel offenders can now be sentenced to up to 10 years behind bars, in addition to facing hefty fines and lifelong bans from serving as a company director or manager.

Chairman of the Australian Competition and Consumer Commission, Graeme Samuel, announced the new rules at an address to the American Chamber of Commerce...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.