Legal representatives for a company that dobs in fellow cartel members will not generally be permitted in the room when the competition regulator interviews directors, employees and others seeking derivative immunity from prosecution, under proposed amendments to the ACCC’s immunity policy.
Noumi and ASIC are challenging a finding that the food manufacturer waived legal professional privilege over a PricewaterhouseCoopers report commissioned by its lawyers at Ashurst by disclosing the report during an ASIC investigation.
The Australian Prudential Regulation Authority has slapped additional licence conditions on Mercer Superannuation after the prudential regulator identified deficiencies in risk and compliance management by the trustee, which oversees a super fund holding $70 billion of members’ money.
The Australian Securities and Investments Commission has prevailed in its case against payday lenders Cigno and BSF Solutions alleging they provided credit without a licence, with a judge rejecting their argument that their loan model was analogous to buy now, pay later arrangements that don’t require a credit licence.
A former Ord Minnett executive has taken the wealth management firm to court alleging he was sacked for complaining about a $110,000 cut in his pay imposed after the corporate regulator slapped the firm with a $880,000 penalty for breaching market integrity rules.
A class action against BPS Financial may abandon some claims after a judge found in a separate case brought by the Australian Securities and Investments Commission that the Qoin cryptocurrency issuer made false and misleading claims about its product.
Challenging a ruling that it breached its continuous disclosure obligations, ANZ has argued on appeal that it did not need to inform the ASX of a bailout by the underwriters of a 2015 institutional share placement because the information didn’t go to the fundamental value of its shares.
Global Payments’ plan to acquire Sydney software company School Bytes Learning may substantially lessen competition, the Australian Competition and Consumer Commission has said in outlining preliminary concerns with the deal.
The Australian Communications and Media Authority has brought proceedings against Optus over a September 2022 data breach that comprised the data of up to 10 million customers, the first lawsuit filed by a regulator following a string of major cyberattacks over the past two years.
A New South Wales developer’s competition case against NSW Ports over a ports privatisation agreement looks bound for the High Court after a judge found a related ACCC proceeding did not bar it from bringing the case, which will challenge a Full Court finding that the ports operator was shielded by derivative Crown immunity.