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IAG employee not unfairly sacked after WFH activity tracked
Employment 2023-08-09 1:37 pm By Sam Matthews

The Fair Work Commission has found that insurer IAG did not unfairly dismiss a veteran employee after a company review of her at-home cyber activity revealed extensive periods of “no or minimal keyboard activity”.

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GCs need to make sure companies can back up green credentials, ACCC warns
Climate change 2023-08-08 11:02 pm By Cindy Cameronne

The Australian Competition and Consumer Commission has released guidelines to help businesses avoid greenwashing and greenhushing, calling on general counsel to avoid broad terms like ‘sustainable’ and ensure businesses have research to back up green claims.

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ASIC takes Dixon Advisory director to court over $19M debt
Financial Services 2023-08-04 12:15 pm By Cindy Cameronne

ASIC is seeking penalties against Dixon Advisory & Superannuation Services director Paul Ryan for allegedly failing to consider clients when executing a deed that affected the financial advice firm’s ability to recoup a $19 million debt from its holding company. 

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ASIC hits eToro with first-ever design and distribution action over CFDs
Securities 2023-08-03 11:35 am By Cindy Cameronne

The Australian Securities and Investments Commission has filed its first action alleging breach of obligations in designing and selling financial products, accusing online investment platform eToro of inappropriately exposing clients to high risk CFDs.

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Ultra Tune boss a ‘dreadful’ witness, says judge in ACCC’s contempt case
Franchises 2023-08-02 11:14 pm By Cindy Cameronne

A judge overseeing the Australian Competition and Consumer Commission’s case alleging auto mechanic Ultra Tune failed to comply with court orders has labelled its managing director Sean Buckley as “one of the more dreadful witnesses” he had seen.

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ACCC wins bid-rigging case over tender for National Gallery work
Competition & Consumer Protection 2023-08-01 2:44 pm By Christine Caulfield

Industrial technology company Delta Building Automation has been found liable for attempting to rig a bid for work on the National Gallery of Australia, in a win for the competition regulator.

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Super trustee Diversa can’t dodge blame for banned financial adviser, court told
Trials 2023-07-31 10:02 pm By Sam Matthews

The Australian Securities and Investments Commission has told a trial judge that superannuation trustee Diversa can’t hide behind outsourcing arrangements to explain its alleged failures to oversee a now-banned financial adviser accused of luring vulnerable customers into signing up to Diversa accounts.

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Investment manager charged with forging portfolio report
Financial Services 2023-07-31 10:46 pm By Cat Fredenburgh

An investment manager has been arrested and charged with providing prospective investors with forged portfolio reports.

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Phoenix hit with record $438M penalty for unconscionable enrollment practices
Competition & Consumer Protection 2023-07-28 10:13 pm By Cat Fredenburgh

Collapsed vocational education provider Phoenix Institute and its marketing arm have been hit with a record $438 million penalty after a judge found they acted unconscionably and with “callous indifference” by enticing vulnerable consumers to enrol in unsuitable courses with promises of free laptops.

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Select AFSL exec appeals ruling he ‘turned a blind eye’ to unconscionable sales tactics
Appeals 2023-07-27 11:58 pm By Cat Fredenburgh

The former director of Select AFSL has appealed a judge’s decision to slap him with a $100,000 penalty and a disqualification order after finding he “turned a blind eye” to the life insurer’s unconscionable phone sales tactics.

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