Australia's supermarket giants face multi-billion dollar fines under a mandatory code of conduct being proposed to protect suppliers and consumers - and to rein in the power of the sector. While the review by former Labor minister Craig Emerson turns up the heat on Woolworths, Coles and Aldi, it rejects pressure to break up the sector if they have too much market share..

Reporter: Peter Ryan, Senior Business Correspondent

Featured: Craig Emerson, former Labor minister