Telco Industry Self-Regulation Failing
A coalition of consumer advocates is calling for direct government oversight due to the failure of self-regulation in reducing consumer harm.
The Telecommunications Consumer Protection (TCP) Code, created by the industry itself, is overseen by the Australian Communications and Media Authority (ACMA), which reviews and approves it, giving it the force of law.
However, in the last two years, ACMA has only taken action on TCP Code violations three times, with light punishments, merely instructing telcos to comply with the code.
The name conveys a weighty sense of legislative power, but in fact the code was created by the industry itself.
Author's summary: Telco self-regulation is failing to protect consumers.
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