Financial Services
CBA taken to court by ASIC over $21M in hidden CommBiz fees
The Commonwealth Bank has been dragged to court by the corporate regulator, accused of charging business customers millions of dollars in undisclosed fees for the past 19 years.
Competition & Consumer Protection
ACCC says Coles may not up prices, but offer less if IGA exits
The competition regulator has warned that Coles may pull back resources if an independent competitor in Kalgoorlie were forced to leave the market.
Class Actions
Jetstar employee worried about airline ‘getting in trouble with ACCC’, class action says
A Jetstar employee sent an internal email in 2020 saying that customers were to cash refunds and expressing worries about scrutiny from the consumer regulator, a class action over COVID-19 flight cancellations has alleged in an amended statement of claim.
Financial Services
Macquarie to cop $14M penalty over interest rate promos to new customers
Macquarie Bank has agreed to a proposed $14 million penalty after admitting to failures in how it promoted introductory offers for new savings account customers.
Class Actions
Domino’s class action mulls cross-appeal in underpayments case
A class action that successfully argued Domino's misled franchisees on worker pay entitlements is considering a cross-appeal, with some of the judge's findings on compensation in his 1,725-paragraph ruling as potential targets.
Insurance
Youpla directors hit with penalties, bans in ASIC case
Three former Youpla board members breached their duties as directors of the funeral insurance company, the Federal Court has found, issuing disqualification orders against the trio on Wednesday.
Competition & Consumer Protection
Aspen, Arrotex settle suit over iron supplement claims
Iron supplement makers Aspen Pharmacare and Arrotex Pharmaceuticals have settled their spat over alleged false advertising, following court-ordered mediation.
Social Media
eSafety wins suppression order in Telegram suit over doxing concerns
The eSafety Commissioner has won suppression order over witness names in its lawsuit against messaging platform Telegram over alleged pro-terror content, after expressing concerns they could be exposed to doxing.
Financial Services
Clifford Chance grows private capital practice with Holding Redlich partner
Clifford Chance Australia has hired a private capital partner from Holding Redlich to join its Sydney office.
AI
Government to mandate AI breach reporting, establish regulator
The federal government will implement new measures, including mandatory reporting and possible criminal law reforms, to tighten its control of AI companies, after a rogue AI agent infiltrated Medicare's portal.
