Lawyers are advising large companies to look hard at their business plans to keep on the good side of the Australian Competition and Consumer Commission now that the enforcer has a new arsenal to deploy.
The Australian Securities and Investments Commission has won a $1 million penalty against a financial advice firm for breaching the so-called best interest duty, the first ever penalty imposed for such a violation.
Westpac Banking Corp. will go it alone and defend itself at trial against claims by Australia’s securities regulator that it rigged interest rates, after National Australia Bank and Australia and New Zealand Banking Group reached settlements on the eve of trial.
A date has been set for the Full Federal Court to hear Prysmian Cavi E Sistemi’s appeal of a $3.5 million fine in a case brought by Australia’s competition regulator against the Italian cable manufacturer for alleged cartel conduct.
Car giant Ford now has an extra month to get its ducks in a row ahead of a scheduled trial next year in a case alleging it misled drivers who complained about faulty vehicles.
Aft Pharmaceuticals has denied claims brought by consumer goods giant Reckitt Benckiser that ads for Aft’s over-the-counter painkiller Maxigesic are misleading and causing harm to Reckitt’s brand.
The Australian Competition and Consumer Commission will review the proposed $1.3 billion sale of milk processor Murray Goulburn Cooperative to Canada’s dairy giant, Saputo.
Cement Australia will have to foot most of the Australian Competition and Consumer Commission’s appeal bill, despite the regulator coming up short in its bid to have a penalty against the cement giant for alleged anti-competitive conduct increased by $80 million.
The Australian Olympic Committee lost its challenge to a court ruling that found for Telstra in a consumer and intellectual property battle over the company’s ‘Go to Rio’ ad campaign.
A federal court judge has ordered Australian computer retailer MSY Technology to cough up $750,000 for misrepresenting consumers rights to remedies on faulty products.