The Privacy Commissioner would be better positioned to specifically address whether she feels she has sufficient power to work with companies. Certainly having these standards, whether they are entrenched in legislation, or whether it is decided that these should be self-regulatory codes and guidelines, as has been done in other media, when these standards are put out, they do become the benchmark. They become the bar that companies are expected to reach one way or another.
On November 1st, 2012. See this statement in context.