Banks denied interim authorisation for cartel conduct
In an earlier post I noted that that several Australian banks had applied to the ACCC for authorisation to collectively bargain ‘with providers of third-party mobile wallet services [including Apple] on conditions relating to competition, best practice standards, and efficiency and transparency.’ Authorisation and interim authorisation Authorisation may be granted for cartel conduct and other prohibited anti-competitive conduct on public benefit grounds. Applications typically take up to six months, which allows the ACCC to undertake detailed market studies and full consideration of potential competitive detriment…