Australian Consumer Law set for review The Australian Government is planning a review of the Australian Consumer Law ("ACL") in 2016. The review was planned as an implementation review as a part of the development and introduction of the ACL in 2010, and will provide the Australian Competition and Consumer Commission ("ACCC") with the opportunity to assess the impact of the ACL. The ACCC broadly regards the ACL's provisions relating to misleading and deceptive and unconscionable conduct as a success. However, possible areas flagged for review by the ACCC are how the ACL applies to a sharing economy, the challenges of adopting international product standards and the redress available under the ACL when companies phoenix. In addition, a key area of review will likely be the ACL's penalty regime, as the ACCC is not satisfied that the current penalties sufficiently deter breaches of the ACL, particularly by listed companies. In the view of the ACCC, the current maximum penalties - AU$1.1 million for a corporation or AU$220,000 for an individual - are inadequate for corporations with large turnovers that could easily pay such a fine. A final report is expected in March 2017. For more information, please contact Anne-Marie Allgrove, Toby Patten, Matthew Dempsey or Emma Burn.