A judge has ordered Meta to pay a $20 million penalty for misleading consumers by representing that its discontinued Onavo Protect mobile app would keep users’ personal activity data private, when in fact it was being collected for commercial use.
ASIC is calling for disqualification orders and penalties against property guru Sasha Hopkins, alleging he hawked real estate investment opportunities on social media that raised over $32 million without a licence.
ASIC has brought enforcement action against Vanguard Investments Australia, accusing the investment firm of misleading claims that its ethically conscious hedge fund screened securities for their environmental, social and good governance bona fides.
Dairy processor Lactalis Australia has been hit with a $950,000 penalty in the first proceedings against a company for breaches of the Dairy Code.
The competition regulator has delayed its final decision on whether to approve ANZ’s $4.9 billion acquisition of Queensland-based Suncorp, after expressing worries the tie-up could stifle the growth of smaller banks.
Wholesale retailer Costco has paid a penalty of $33,000 to the consumer watchdog after being caught out for labelling imported lobster as locally sourced.
The ACCC has raised concerns about Coles plans to acquire milk processing plants from Saputo, with the regulator saying the transaction — marking the first time a supermarket chain has ventured into the processing market — would be a “major structural change”.
The proposed $1.5 billion merger of Australian Clinical Labs and Healius — two of Australia’s largest pathology services providers — is likely to substantially lessen competition, the ACCC has warned.
A former chef of catering company Peter Rowland Group has lost her fight for gender pay equality, with the Fair Work Commission accepting the merits of her claim but ruling the legislation that covers equal pay can apply only to current employees.
The corporate watchdog has cancelled the AFS licence of FTX Australia, the Australian subsidiary of collapsed cryptocurrency exchange FTX.