Commission leniency programme working well
The Commerce Commission's leniency programme continues to work well, Commission Chairman Mark Berry says in the annual report for the year to 30 June 2016.
"We have seen an increase in businesses seeking immunity from prosecution for domestic cartel conduct over the last few years, which has fed into a rise in domestic cartel investigations," he says.
"We have had successes in our real estate and livestock investigations this year, both of which resulted in court proceedings. Five organisations settled with us and were ordered to pay penalties of over $7 million across both cases. The court proceedings continue against the remaining defendants."
Looking to the future, Dr Berry says the Commission has been developing a refreshed strategy to ensure it is continuing to deliver the best value and outcomes for New Zealand.
"This is focused on where we want to be in 5 years' time and the impact we want to have had for New Zealanders. We believe that setting an integrated strategic plan for the Commission will provide clear direction on where we are heading and how we plan to get there."
Commission Chief Executive Brent Alderton says Auckland continues to grow at a rapid pace and is a hub of commercial activity, with most large businesses based there.
"As a result we made a strategic decision to expand our Auckland office. This not only lifts our capacity to meet the demand in New Zealand's fastest-growing region but it better enables us to recruit and retain staff in the Auckland market," he says.
Last updated on the 16th September 2019