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ANZ is facing a lawsuit by former CEO Shayne Elliott alleging the bank breached the terms of a contract governing his departure when it denied him $13.5 million in bonus payments.
Under new rules that will come into effect in July, large supermarkets like Coles and Woolworths will face $10 million fines for price-gouging.
The ACCC has opposed IAG’s proposed $1.35 billion acquisition of RACWA's insurance operations, saying the deal would substantially lessen competition for motor vehicle and home and contents insurance in Western Australia.
The competition regulator has cited the public interest in its misuse of market power case against Mastercard in fighting suppression applications by the credit card giant and its heavy-hitter customers, including Coles and Visa.
A court has slapped private health insurer Bupa with a $35 million penalty after it admitted to misleading thousands of customers about their benefits for over five years.
ASIC has sued superannuation trustee Diversa for investing $300 million in retirement savings into Falcon Capital's failed First Guardian Master fund.
The Commonwealth Bank has paid $792,000 in penalties after the consumer watchdog found it had failed to enable data sharing for certain business customers.
The Australian Competition and Consumer Commission has appointed the NSW government’s former chief data scientist as a commissioner, adding experience in AI as the regulator eyes a more data-driven approach.
A SkyCity shareholder has lost his bid to bring a case against former executives and directors at the ASX-listed casino seeking to recoup a $67 million penalty over breaches of money laundering regulations.
Delta Power & Energy, the owner of the Vales Point coal-fired power station in NSW, will defend ASIC proceedings accusing it of manipulating the market for electricity futures contracts by arguing that it acted honestly.