[SYDNEY] The head of Australia’s competition regulator on Friday stated a report best of A$125 million (S$116.6 million) imposed on Volkswagen AG used to be simply a taste of what agencies could expect in the future.
Australian Competition and Consumer Commission (ACCC) Chair Rod Sims told newshounds the organization would be the use of its new accelerated powers to punish illegal undertakings with the biggest fines possible.
“Companies can assume the ACCC to be searching for a lot greater penalties in future,” said Mr. Sims. “We are going to see penalties of way over A$100 million as the norm.”
“It is a penalty that additionally sends a very clear message to company Australia no longer to breach the law.”
Earlier, a federal court penalized Volkswagen for allegedly making false representations about compliance with the country’s diesel emission standards.