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Social media execs to front hearing over tougher kids ban penalties
Representatives from Meta, Google, TikTok and Snap will front a Senate hearing this week over whether they should face penalties of up to $99 million for failing to comply with new rules barring children under 16 from accessing their platforms.
Bendigo Bank to cop $8M penalty from APRA over cyber breach
Bendigo and Adelaide Bank has been hit with enforcement action by the prudential regulator for cybersecurity failures by a former business, and has agreed to an $8 million penalty.
Netwealth failed to properly vet First Guardian fund, court told
The corporate regulator has sought court declarations against super trustee Netwealth over the failed First Guardian investment fund, which along with the collapsed Shield is believed responsible for $1 billion in losses.
Meta glasses may be target of next phase of privacy reforms
The government is mulling stronger privacy laws to deal with emerging technologies like smart glasses, with the OAIC saying it was giving "serious consideration" to the privacy issues raised by the glasses, most of which are made by Meta.
ACCC blocks Kegstar acquisition of Konvoy assets
The ACCC has opposed US-based keg pooling company Kegstar's proposed acquisition of the assets of rival Konvoy, the latest acquisition blocked since the new mandatory merger review came into effect.
Freezing orders extended in ASIC case against Falcon Capital’s ex-CIO
A judge has pushed out freezing orders against the former chief investment officer of failed investment firm Falcon Capital, dismissing the excecutive's complaint that he was leaning on friends to pay bills.
Ex-Star GC wins stay of $400K penalty in ASIC case
Star's former chief legal offer has won a stay of a $400,000 penalty as she appeals a finding that she breached her directors' duties by failing to alert the company's board to money laundering risks in its Sydney casino.
CoCo Joy boss cops 6-month sentence after conviction appeal
The CEO of the defunct company behind coconut water brand CoCo Joy has been resentenced after he succeeded in overturning his conviction on one of three charges.
ATO wants new judge to hear former EY partner’s case
Awaiting judgment in a case by the ATO alleging the promotion of tax loss schemes, former EY partner Peter White has fired off his own case against the tax office, and both sides want a different judge to hear the matter.
Clive Palmer asks High Court to revive case against former ASIC chair
Billionaire Clive Palmer has asked the High Court to revive his misconduct claims against former ASIC chair James Shipton, which the Full Court rejected as "little more than a house of cards".