New laws now require water markets decisions to be announced and ban market manipulation and insider trading in Murray-Darling Basin water markets. These changes give the ACCC additional powers to act against misconduct and improve transparency in water trading.
With the commencement of the laws on 1 July 2026, all the ACCC's enforcement functions under the Restoring Our Rivers reforms are now in place. The reforms respond to issues identified by the ACCC's Water Markets Inquiry, including concerns about market conduct, transparency and confidence in Basin water markets.
"These are significant powers that will strengthen transparency and integrity, helping to build confidence that Basin water trading markets are operating fairly," ACCC Deputy Chair Mick Keogh said.
"We encourage market participants to report suspected manipulation, insider trading or other water market issues, so we can investigate and take enforcement action where necessary."
Water market participants include businesses in the agriculture and irrigation sectors, as well as intermediaries such as water brokers who act on behalf of clients to facilitate trades.
The ACCC will enforce bans on conduct that artificially distorts water markets and on trading water rights while aware of market-sensitive information that is not publicly available.
The ACCC will also oversee new requirements for federal and state government agencies and irrigation infrastructure operators to announce water market decisions that may materially affect trading behaviour.
"Clearer rules and stronger disclosure obligations will help deter misconduct and give market participants greater trust in the information available to them," Mr Keogh said.
"These new responsibilities are underpinned by the Intermediaries Code and statutory trust accounting framework, which hold water market intermediaries such as brokers to higher standards."
The ACCC has supported market participants ahead of commencement by publishing guidance, engaging directly with stakeholders, and holding online information sessions.
Reports of market manipulation, insider trading, or other water market issues, can be made using the ACCC's web form
