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Finder Wallet taken to court by ASIC over ‘unlicensed’ crypto product
Financial Services 2022-12-15 5:48 pm By Cat Fredenburgh

ASIC has filed a lawsuit against Finder Wallet, a subsidiary of comparison website Finder.com, alleging the company breached various requirements in relation to its crypto product Finder Earn.

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High Court won’t hear appeal by payday lenders Cigno, BHF
High Court 2022-12-15 8:43 pm By Cat Fredenburgh

The High Court won’t hear an appeal by payday loan providers Cigna and BHF seeking to challenge a Full Court judgment that found they can’t dodge the obligations contained in the National Credit Code through their lending model.

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Medibank notified of law firm complaint to privacy commissioner
Privacy & Cybersecurity 2022-12-14 4:44 pm By Christine Caulfield

Medibank was formally notified Tuesday of a class action-style complaint brought on behalf of millions of customers in the wake of last month’s massive data breach.

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‘An unusual case’: ACCC gives Booktopia more time to pay $6M penalty
Competition & Consumer Protection 2022-12-14 3:16 pm By Cindy Cameronne

The Australian Competition and Consumer Commission has agreed to grant Booktopia more time to pay a $6 million penalty over an alleged misleading refund policy, after the online book retailer suffered a “massive fall” in its share price.

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Courtenay House contractor pleads guilty over $180M Ponzi scheme
White Collar 2022-12-14 9:28 pm By Sam Matthews

A former contractor of investment management fund Courtenay House who received over $670,000 in commissions from investors has pleaded guilty to two criminal charges after an ASIC investigation revealed the company duped 585 investors in a $180 million Ponzi scheme.

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Star Entertainment directors, execs targeted in new ASIC action
ASIC 2022-12-13 9:24 am By Christine Caulfield

The corporate cop has named eleven current and former Star Entertainment directors and officers in a civil penalty case alleging breaches of duties in relation to the company’s non compliance with anti-money laundering laws.

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Home builder admits to unfair clause banning bad reviews by customers
Competition & Consumer Protection 2022-12-13 5:11 pm By Sam Matthews

Property developer Fowler Homes has admitted that its standard contract included an unfair non-disparagement clause preventing customers from publishing negative reviews or other feedback without the company’s permission.

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Former Statewide Super execs charged with dishonesty offences
White Collar 2022-12-12 2:14 pm By Cat Fredenburgh

The former chief financial officer and chief risk officer of South Australian industry super fund Statewide Superannuation have been hit with criminal charges related to the procurement of services from financial services platform Cosight.

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Dan Murphy’s owner stumbles in bid for Darwin pub
Competition & Consumer Protection 2022-12-12 2:45 pm By Cat Fredenburgh

The Australian Competition and Consumer Commission has raised preliminary competition concerns about Endeavour Group’s proposed acquisition of the Beachfront Hotel north of Darwin, saying it could stymie competition in the local market for takeaway liquor.

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Google defeats ACCC case over data collection
Competition & Consumer Protection 2022-12-09 3:01 pm By Cindy Cameronne

The ACCC has lost proceedings accusing Google of duping millions of Australians into agreeing to expand the scope of personal information the tech giant could collect and combine for use in targeted advertising. 

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