Opposition Leader Bill Shorten has announced that a future Labor Government will legislate to empower and resource both the Australian Media and Communications Authority (ACMA) and the Australian Consumer and Competition Commission (ACCC) to embed teams of regulatory agents into organisations where there may be a regulatory risks. Teams of up to 20 regulatory officers will sit with business staff, drop into meetings and trail the CEO, executives and directors to identify misconduct before it arises.
Mr Shorten has indicated that within 100 days of being elected, a Labor Government will seek to embed ACMA teams within the offices of NewsCorp Australia and SkyNews and ACCC teams within the offices of Caltex Australia.
Mr Shorten said:
Credit where credit is due. The Liberal-National Government’s decision to finally enable ASIC to embed teams within the offices of Australian banks will send the necessary message to business about how they should behaves. And using this model, a future Labor Government will ensure that petrol companies and non-ABC media companies similarly behave.
In response to this proposal, Minister for Revenue and Financial Services, Kelly O’Dwyer, has indicated that the Government is currently investigating whether a team from the ACCC should be embedded within the offices of Coles to ensure an appropriate and consistent plastic shopping bag policy is implemented.