Regulators

The former chief financial officer of Big Un has become the third person to be charged with insider trading connected to shares in the defunct video producer.

Armaguard and rival Prosegur have secured authorisation for their proposed merger from the ACCC, which has found the likely reduction in competition in the cash transport industry was outweighed by the public benefits of the transaction.

The Australian Taxation Office has won a long-running case over an international tax evasion scheme by a company linked to the Binetter family after uncovering evidence showing earlier judgments were secured by fraud.

Insurers Suncorp and AAMI have back-paid $32 million to thousands of employees who were underpaid over a period of almost eight years. The insurers will also make a $520,000 contrition payment to the Commonwealth as part of an enforceable undertaking entered into with the Fair Work Ombudsman. Suncorp underpaid over 15,800 employees between May 2014…

Commonwealth Bank of Australia has copped a record $3.55 million penalty for breaching spam laws after it sent more than 65 million emails without an easy way for individuals to unsubscribe.

ANZ has rubbished arguments from a competitor and the ACCC that its merger with Suncorp’s banking arm will reduce competition and hurt consumers, saying the watchdog had been asked to believe a “distorted and selective view” of the proposal.

NAB has told a court it should pay a $2 million penalty — not the $10 million proposed by ASIC  — for engaging in unconscionable conduct by overcharging customers, saying the exact words used in the regulator’s concise statement accuse it only of a single contravention.

Dell Australia has apologised to consumers and admitted misleading those who purchased add-on computer monitors by inflating the pre-discount price, sometimes to more than the product’s normal retail value.

On the first day of trial in parallel class actions and regulatory proceedings, the Fair Work Ombudsman panned the payment systems adopted by Woolworths and Coles for salaried managers, saying they were “entirely foreign” to the industrial award and that the supermarket giants had “no meaningful proper records” for overtime. 

The parents of deceased fraudster Melissa Caddick will take $950,000 to move out of a multi-million dollar property in Sydney’s East, which will now be sold by receivers.