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Susan Ning introduced the panel by noting that this event comes out at a critical time. The pandemic has challenged the way law enforcement operates, but has also revealed particular markets features. Big tech has also been particularly singled out in recent months and given rise to new paradigms in law.
Rod Sims highlighted the need for prosecutorial agencies such as the Australian Competition and Consumer Commission (“ACCC”) to be bold. This implies entailing cases, seeking large penalties and communicating about results -and this is the way for an agency to gain the industry’s respect and attention. In the end, if that level of respect is achieved, companies do understand that an infringement to competition law comes with significant risks of detection, and potentially very adverse effects. Furthermore, the knowledge that an agency is a diligent and proactive enforcer creates an incentive for agents to report non-compliance, creating a virtuous circle.