Business Services Industry
COMPANY RORTS AKIN TO WHITE COLLAR CRIME:AUST TRADE UNIONS BODY.
AsiaPulse News, July, 2002
CANBERRA, July 8 Asia Pulse - Australian Council of Trade Unions (ACTU) secretary Greg Combet said today corporate rorts were akin to white collar crime and the Australian Competition and Consumer Commission (ACCC) was right to advocate criminal sanctions.
The ACCC has used its submission to the Dawson review into competition law to argue for new seven-year prison terms for executives caught organising illegal cartels, and maximum fines worth 10 per cent of company turnover.
In recent months, big business heavyweights including Commonwealth Bank chief executive David Murray, Qantas chief executive Geoff Dixon and Woolworths boss Roger Corbett have hit out at ACCC head Professor Allan Fels over his criticisms of big business.
Mr Combet said the ACCC...
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