Regulators

A court has found that defunct printing cartridges supplier Beacon used deceptive sales tactics to dupe customers into paying for goods they did not order, in conduct described as "fundamentally dishonest”. 

Tax advisors will face tougher penalties for misconduct under new federal legislation introduced in response to the PwC tax leaks scandal and recommendations from a Tax Practitioners Board review. 

A judge has hit ASX Limited with a $20.5 million penalty after it admitted that a February 2022 statement to the market that its CHESS replacement project was “progressing well” was misleading. 

ASIC may reconsider its approach to claims against non-executive directors after failing to prove that three NEDs of Rex had actual knowledge that the failed budget airline did not have a reasonable basis for a rosy profit forecast, experts told Lawyerly. 

Pauls Milk producer Lactalis has copped a penalty after the consumer regulator issued infringement notices for alleged misleading representations about the freshness of two of its products.

ASX Limited has told a judge it did not intend to mislead shareholders when it told the market that its CHESS replacement project was “progressing well” and that a $20.5 million penalty was sufficient to achieve deterrence.

A Treasury report has suggested splitting audit functions off from multidisciplinary professional services firms, following whistleblower claims that KPMG leaked confidential client information.

Coles Group's proposed acquisition of a leasehold interest in a Kalgoorlie supermarket and liquor store site would substantially lessen competition in the retail supply of groceries in the region, the competition cop says.

The competition regulator has opposed Coles Group's proposed acquisition of a leasehold interest in a Kalgoorlie supermarket and liquor store site, finding it would substantially lessen competition in the retail supply of groceries in the region.

A judge has found that ASIC's case against WA gold mining company Wiluna over alleged omissions in a 2022 ASX announcement should await the determination of related cases against two executives, citing the risk of inconsistent findings.