"As was always envisaged, the [Productivity Commission]'s draft report has identified many issues that we will consider further," he said.

ACCC's specialised financial services unit is currently looking at the big four banks and Macquarie Bank for how they set interest rates on mortgage products.

The general competition issues identified in the Productivity Commission's draft report on competition in the Australian financial system, released earlier this month, include lack of choice merchants have in payment systems and insufficient data sharing regime that makes it difficult for consumers to switch from one provider to another.

NBN and energy

For businesses more broadly, the competition regulator is expected to use its new misuse of market power provisions, which bans businesses from engaging in conduct that will have the "purpose, effect or likely effect" of reducing competition, and its new concerted practices provisions which ban businesses from engaging in communication or cooperative behaviour to reduce competition.

"As you would expect, the ACCC fought hard for these provisions and we will be using them," he said.

He said the regulator already established a specialised "substantial lessening of competition" unit to focus on investigations that could lead to enforcement using the new laws.

"We understand the importance of our case selection given the bizarre debate prior to the passing of these laws,' he said.


In the lead up to passing the laws, the Labor Party backed major supermarkets in opposing the proposed changes, saying the so-called "effects test" could drive up the price of $1-a-litre milk to as much as $11.

The competition regulator will also make sure large or national traders stick to consumer guarantee rights, he said.

"[T]his year we will return our focus to large national traders for whom we will have a low tolerance when they mislead consumers as to their rights or set up practices and procedures that fail to deliver consumers the protection they are entitled to," he said.

Mr Sims said another area of focus will be misleading speed claims and statements made during the transition to the National Broadband Network.

Last year, TPG, Telstra and Optus had to compensate customers after they admitted to misleading consumers about the potential speed of NBN.

In the area of energy, Mr Sims said the competition regulator is expected to make recommendations to the Treasurer to improve electricity affordability.

To ensure protection for small businesses, ACCC will continue to crack down on contracts that impose unfair contracts terms on small businesses and large or national franchisors breaching the compulsory Franchising Code of Conduct, Mr Sims said.

ACCC enforcement and compliance priorities for 2018


- Consumer issues in new car retailing

- Misleading speed claims about NBN

- Large or national traders avoiding or misrepresenting consumer guarantee rights

- Competition issues in the financial services sector

- Energy and electricity prices

- Use of digital platforms, algorithms and consumer data

- Unfair contract terms and the Franchising Code of Conduct

- Better product safety for online consumers


- Takata airbag recall

- Investigation into cases that involve the new misuse of market power and concerted practice laws

- Agricultural sector

- Commercial construction sector