Competition law experts have raised doubts about changes to Australia’s merger review regime announced Wednesday, calling the reforms a mixed bag for businesses and the reduced role of the Federal Court “disappointing”.
Treasurer Jim Chalmers is expected to announce changes to Australia’s merger review regime on Wednesday that will require companies to notify the Australian Competition and Consumer Commission of deals above a certain threshold.
In a win for the Australian Competition and Consumer Commission, a court has found Dominique Grubisa’s DG Institute made misleading statements to students who paid up to $9,000 to enrol in her property investment and wealth management programs.
Car repair franchise Ultra Tune is challenging a record $1.5 million fine for contempt for failing to comply with a court-ordered compliance program in proceedings brought by the Australian Competition and Consumer Commission.
British bank HSBC has been stung with $33,000 in penalties for alleged violations of rules designed to increase transparency and competition in the banking sector.
The owner of realestate.com.au has dropped its plan to acquire a national forms platform used by real estate agents, after the Australian Competition and Consumer Commission commenced a review of the deal off its own bat and raised competition concerns.
Online florist Bloomex has been slapped with a $1 million penalty for “serious” misleading representations about its discounts and star ratings system.
The ACCC will attempt to make online shopping less treacherous for consumers this year, vowing to take enforcement action against misleading influencers, online reviews, in-app purchases and price comparison sites.
The competition regulator will not appeal a tribunal ruling that set aside its decision to block the $4.9 billion merger between ANZ and Suncorp, but promised it will continue to scrutinise the banking industry.
The Australian Competition and Consumer Commission has brought proceedings against fashion retailer Mosaic Brands Limited, alleging it failed to deliver several hundred thousand products to customers within advertised time frames.