John Duffy: Consumer NZ Chief Executive comments on increased fines for breaching the Fair Trading Act

The Government is planning to increase fines for breaching the Fair Trading Act - from 600-thousand dollars to five-million. It is announcing a swathe of changes to crack down on businesses and individuals breaking consumer laws.  The cases could also be moved from the criminal court to the Civil Court to make prosecution easier.  Consumer NZ Chief Executive Jon Duffy told Mike Hosking that it is one of the most consequential changes to the act in a generation.  He says it will be a deterrent for many companies - but $5million is a drop-in-the-bucket for large multi-nationals.  LISTEN ABOVE The podcasts in the SME Stream contain general information only, not financial or professional advice. Any opinions expressed in the podcasts are not necessarily shared by BNZ, or its related entities. BNZ is not liable for any losses resulting from the content of the podcastsSee omnystudio.com/listener for privacy information.