Fonterra could bring counter-claims against dairy farmers that brought a class action alleging they were unpaid when the company slashed milk prices in 2016, a court has heard, after debt recovery proceedings by Fonterra against the lead applicants were joined with the class action.
The Australian Securities and Investments Commission spent over $1.8 million in taxpayer funds investigating and prosecuting its now failed responsible lending case against Westpac.
Bank of New York Mellon unit Pershing has become the first company in Australia to be convicted of criminal charges for breaching regulations requiring AFSL licensees to keep client money in separate bank accounts.
The Australian Securities and Investments Commission has told a parliamentary committee that it plans to bring more than five court proceedings against AMP before the end of the year and has referred a number of investigations into the financial services giant for possible criminal prosecution.
The Australian Competition and Consumer Commission has initiated proceedings against Victorian electric utility Sumo Power for allegedly luring customers with the promise of discounts and low rates only to jack up their prices months later.
Former financial adviser Graeme Miller has been jailed for six years after pleading guilty to misappropriating $1.865 million in client funds in what a judge described as a “cruel and deceitful betrayal”.
Google and Facebook will face penalties of at least $10 million for breaches of a media bargaining code drafted by the ACCC that aims to create a “level playing field” between Australian media companies and the tech giants.
A judge has handed ASIC a “narrow” win in its action against former Tennis Australia director Harold Mitchell, tossing most of the regulator’s case and accusing it of “confirmatory bias”.
The Australian Competition and Consumer Commission has extended an authorisation allowing Regional Express to coordinate with Qantas and Virgin on certain regional routines during the coronavirus pandemic. The airlines won interim authorisation from the competition regulator in March to coordinate flight schedules and share revenue on what the ACCC called ten important regional routes. Under…
The Australian Competition and Consumer Commission has come up short in its challenge to a ruling that dismissed its case against TPG over contract terms that allowed the internet provider to keep customers’ unused prepaid funds on phone or internet plans.