Regulatory perspectives: Balancing innovation and competition (ACCC)

Digital Future Summit Series Episode 2: the ACCC on Balancing Innovation and CompetitionPresenters:Caroline Coops, KWMPeta Stevenson, KWMGina Cass-Gottlieb, ACCC ChairIn episode 2 of the Digital Future Summit Series, Caroline Coops and Peta Stevenson are joined by Gina Cass-Gottlieb, the Chair of the Australian Competition and Consumer Commission (ACCC), to discuss the findings and implications of the ACCC's Digital Platforms Inquiry. The conversation covers the balance between innovation and competition, the challenges of regulating fast-paced digital industries, and the critical role of consumer trust in fostering a thriving digital economy.Key Points:The eight-year journey of the ACCC's Digital Platforms Inquiry, which began in 2017, focusing on the impact of digital platforms on competition, media, and advertising.Gina Cass-Gottlieb’s preferred regulatory approaches, favouring a combination of forward-looking (ex ante) regulation alongside traditional enforcement (ex post) to manage changing technology markets.The importance of fostering innovation while mitigating competitive harm.How consumer trust is essential for the successful adoption of digital services.The significance of collaboration among international regulators to address common challenges.Additional Resources here:ACCC Digital Platforms Inquiry - TimelineSecond Term’s a Charm: Labor’s ambitions for competition and consumer law reformACCC media release: Regulatory reform in digital platform markets is needed to improve competition and consumer outcomes