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Watchdogs Slammed for Accepting Gifts

Everyone likes to receive gifts, no matter what age.

Now, most of us don’t usually receive gifts at work, and a lot of companies don’t allow their employees to accept gifts even when they are given.

But apparently those rules don’t apply for our watchdogs.

Former ACCC chairman Graeme Samuel has slammed Australia’s watchdogs for allowing their workers to accept gifts from the businesses they’re meant to be regulating.

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The real reason behind the gifts being given

According to AAP, Samuel claims that watchdogs shouldn’t be mixing with the industries they are meant to police.

He told The Sydney Morning Herald, ‘Gifts and hospitality are not given for reasons of altruism’. He further added that they were for ‘ingratiation’.

It’s about creating that sense of obligation or a relationship so that officials start to think “maybe I shouldn’t be as tough on this lot”.’

The Australian Securities and Investments Commission, the Australian Competition and Consumer Commission and the Australian Prudential Regulation Authority, which police banks and companies, register their gifts and hospitality. However, they do not make this list public, AAP reports.

So what are Australian regulators receiving?

According to AAP, gifts can include expensive dinners, airline upgrades, concert tickets and vintage wine and champagnes.

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Alana Sumic

Alana Sumic

Alana Sumic is an editor and writer for The Australian Tribune. She has a Bachelor of Arts from La Trobe University and a Masters in Publishing and Editing from Monash University.

She specialises in national and international politics and current affairs. She’s passionate about delivering the unfiltered stories that matter to you, on all topics.

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