ANZ’s failure to disclose a bailout by banks underwriting a $2.5 billion share placement has resulted in a penalty of less than $1 million, ending an eight-year saga that included an aborted criminal trial.
Mercer Superannuation has agreed to pay $11.3 million in a case the regulator said was “the first and we hope the last” greenwashing case of its kind.
Telstra has been hit with a $3 million penalty by the communications regulator for billing small businesses $21.1 million over an 11-year period for inactive internet services.
ANZ has criticised the ACCC’s objection to its planned $4.9 billion merger with Suncorp, arguing before a tribunal that the alleged “uncertain” effects on competition in banking was not a sufficient reason to block the deal.
Qantas has hit back the ACCC’s argument that the airline failed to respond to key allegations in its ‘ghost flights’ case, telling the court it’s the regulator’s job to particularise its claims.
In a victory for the ATO, a judge has found that payments made by Schweppes to PepsiCo as part of a bottling and distribution agreement, which did not expressly provide for payment of a royalty for use of the company’s IP, were royalties and should be taxed accordingly.
Power tool maker Techtronic has been ordered to pay a record $15 million penalty after admitting it told resellers to set a minimum price for Milwaukee branded products, for which it is a wholesale supplier.
Food manufacturer Noumi is trying to reach agreement with the Australian Securities and Investments Commission on a penalty to propose to the court for violating its continuous disclosure obligations by overstating the value of inventory.
The Australian Competition and Consumer Commission will not oppose Coles’ plans to acquire two milk processing plants from Saputo, saying the $105 million deal is not likely to substantially lessen competition.
RACQ Insurance has agreed to pay a $10 million penalty for misleading customers about their entitlements to discounts on certain insurance products.