Fed: Labor to unveil tougher corporate laws today
Labor plans to unveil plans for tougher laws for corporate criminals, including a doublingof fines.
The Federal Opposition may also push for jail terms for anti-competitive behaviouras proposed by Australian Competition and Consumer Commission chief ALLAN FELS.
Opposition Leader SIMON CREAN says his proposals will improve openness and honestyin the corporate sector and provide more security to shareholders.
Mr CREAN says he'll be calling for at least a doubling of the penalties for breachesof the Corporations Law.
He says the crooks must be weeded out, while security and protection must be givento ordinary punters.
But Prime Minister JOHN HOWARD says he'll wait until the HIH Royal Commission is completedbefore he decides if tougher laws for the corporate sector are required.
Mr HOWARD says he's prepared to change and strengthen the law where there's a strong case for it.
But he says he's not prepared to dump extra regulation on honest businessmen and womenwho've done nothing wrong except try and make a profit for their shareholders.
AAP RTV sw/jtb/psm/
KEYWORD: GOVERNANCE (CANBERRA)
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