The House of Representatives Standing Committee on Economics will hear from Australian and international experts and other key stakeholders about common ownership and capital concentration at a public hearing on Thursday 16 September 2021.
Committee Chair Mr Tim Wilson MP said that 'this will be an opportunity for the committee to hear from some of the world's foremost experts on this subject matter. The committee hopes to gain a deeper understanding of the issues at hand and how Australia's experience compares internationally'.
'Common ownership and capital concentration threatens competitive markets as Megafunds buy up the ASX and other assets, and they are gaining pace, this week we have seen a collaborative consortium seek to buy Sydney Airport and displace other investors. The committee will seek the views of experts on the extent that this issue undermines market competition in Australia and what measures government can take to mitigate any negative impact.' Mr Wilson said.
'Our recent hearings with regulators confirmed they're alive to the risk, and that there are serious concerns about when investors collude driving poorer returns for other investors and competitive markets to extract better returns for themselves, but not consumers', Mr Wilson said.
The full Terms of Reference for the inquiry into common ownership and capital concentration are available on the committee's website.
Public hearing details
Date: Thursday, 16 September 2021
Time: 9.00am to 4.45pm
A program for the hearing is available on the committee's website.
Due to health and safety concerns relating to the COVID-19 pandemic, this hearing is not currently scheduled to be open for public attendance. Interested members of the public will be able to view proceedings via the live webcast at aph.gov.au/live.
