Adele Ferguson, now writing in the Australian Financial Review yesterday reported that the Australian Competition and Consumer Commission (ACCC) chairman, Rod Sims, is stating the ACCC would investigate some of the more serious matters being raised in relation to Aveo. “We have taken a serious note across the agency”.

Ferguson also reports he said there needed to be a wider regulatory review of the sector and that ASIC may need to be involved.

Sims points to three laws for the ACCC to investigate: misleading conduct, unfair contract terms and unconscionable conduct.