Frankish regulator Rod Sims has given his strongest indication that he is not going to search one other time period as president of the nation’s competitors and shopper safety company after greater than a decade in high-profile work. .
Mr Sims ’present time period as chairman of the Australian Competitors and Shopper Fee expires in the midst of subsequent 12 months and his future has been the topic of intense scrutiny in enterprise, political and shopper circles. authorized. In an interview with The age and Within the Sydney Morning Herald, Mr Sims indicated, including that he’s unlikely to hunt one other stint accountable for the highly effective physique. “July subsequent 12 months will likely be 11 years. It is a very very long time in any group,” Sims stated. “Since tales are sometimes written about folks main organizations that keep too lengthy, I believe 11 years is an effective race.”
There was widespread hypothesis that Mr Sims may search or be persuaded to serve one other time period as president of the ACCC, given the huge quantity of labor the regulator has on his toes that he has led throughout his tenure.
However Mr Sims’ newest feedback recommend it is unlikely. “The trustworthy reply is that that is subsequent 12 months’s drawback. I’ve a ton of issues to do between now and Christmas, this will likely be subsequent 12 months’s drawback,” he stated.
“The one factor I do is observe that 11 years is a very long time. I haven’t got rather more to say about that.”
Mr Sims has been a polarizing determine in Australian regulation, the place he’s beloved by some, revered by others and feared and sometimes disliked by large corporations on the receiving finish of the watchdog’s actions.
He joined the ACCC in 2011 after a various enterprise profession the place he was a regulator, an financial adviser to the Hawke authorities and a company adviser to a few of Australia’s largest corporations. After serving a primary five-year time period as president of the ACCC, his time period was prolonged in 2016 by the then Turnbull authorities and once more in 2018 by present Treasurer Josh Frydenberg.
Mr Sims has achieved some notable victories throughout his tenure, most notably by encouraging and securing a lot greater sanctions for breaches of shopper regulation by massive corporations, new legal guidelines for unfair contract phrases and abuse of the ability of the market, and in addition of the main regulator on the planet. investigation into digital platforms which have launched competitors guidelines from expertise giants similar to Google and Fb.
It has additionally not too long ago made a push to extend the ACCC’s powers over mergers, giving extra than simply the Federal Court docket the ultimate say on whether or not it permits firm hyperlinks. The ACCC has not gained a merger case earlier than the Federal Court docket in 20 years.