The Australian Securities and Investments Commission has won its case against Finnish microloan company Ferratum alleging it overcharged vulnerable, low-income consumers during the height of the COVID-19 pandemic.
As it readies its civil penalty suit against tech company Nuix for trial, ASIC has flagged a possible dispute about the extent of penalty privilege pleaded by a handful of former and current directors named in the case.
The consumer regulator has asked a judge to impose penalties of almost $10 million against Honda Australia for misleading the customers of two former authorised dealerships, a penalty up to 10 times what the car maker says it should pay.
ASIC has brought court action against Westpac for allegedly dropping the ball on financial hardship claims by customers, some of whom had property seized or declared bankruptcy while waiting for a response from the Big Four bank.
A judge has order ACBF Funeral Plans to pay $1.2 million for misleading its First Nations customers, a penalty less than one-fifth the fine sought by ASIC.
Qantas has responded to ACCC proceedings alleging it sold thousands of tickets on cancelled flights, saying the period in which the alleged unlawful conduct occurred was one of “well-publicised upheaval” for airlines.
Two former Ferrier Hodgson partners had conflicts of interest when they accepted appointments as administrators of a failed pig farm operation, an appeals court has found, but their remuneration won’t take a hit as a result.
The ACCC will seek a record penalty of more than $250 million against Qantas for selling tickets on cancelled flights, saying companies were not “sufficiently” scared of the consequences of misleading consumers.
Two units of insurer IAG are facing possible class actions that mirror claims in proceedings brought by the Australian Securities and Investments Commission last week that accuse the insurer of misleading home owners insurance customers about loyalty discounts.
ASIC wants to re-run its case against investment group M101 Nominees and founder James Mawhinney after admitting it made errors at its initial trial, arguing for new fines and disqualification orders on remittal by the Full Court, a judge has heard.