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Howden can’t use expert report in ‘wasteful’ patent application against Minetek
Intellectual Property 2022-10-11 12:20 pm By Cindy Cameronne

A judge has refused a bid by manufacturer Howden to use an expert report before IP Australia in a dispute accusing rival Minetek of misappropriating confidential information for an industrial fan patent, saying it was “wasteful” when a similar dispute was already before the court.

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Mayfair 101 loses appeal of $30M penalty in ASIC’s misleading conduct case
Financial Services 2022-10-10 12:08 pm By Christine Caulfield

In a win for the corporate regulator, an appeals court has rejected investment group Mayfair 101’s appeal of a $30M penalty following a judge’s finding that it misled investors about the level of risk of its financial products.

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Law firm files class action-style complaint against Optus over data breach
Privacy & Cybersecurity 2022-10-07 10:56 pm By Cat Fredenburgh

Optus has been hit with a class action-style complaint over a massive data breach that exposed the personal information of up to 1o million current and former customers.

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Jim’s Group cops $24,420 fine for Franchise Code breaches
Competition & Consumer Protection 2022-10-06 11:43 pm By Cindy Cameronne

Jim’s Group has paid a $24,420 fine after the Australian Competition and Consumer Commission accused the company of breaching the Franchise Code and misleading a franchisee.

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ASIC takes Harvey Norman to court over ‘no deposit, interest free’ ads
ASIC 2022-10-05 12:04 pm By Sam Matthews

The Australian Securities and Investments Commission has brought action against Harvey Norman over allegedly misleading ads about its interest-free finance.

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Judge throws out ASIC evidence on tweets in ASX Wolf Trader’s case
ASIC 2022-10-05 4:48 pm By Cindy Cameronne

The self-declared “wolf trader” of the Gold Coast, Tyson Scholz, has won his bid to exclude ASIC’s evidence about the meaning of his tweets in its case accusing him of providing unlicensed financial services.

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University of Melbourne admits manager called academic ‘self-entitled Y-genner’
Employment 2022-10-04 4:31 pm By Sam Matthews

The University of Melbourne has hit back at the Fair Work Ombudsman’s allegations that it took adverse action against two casual academics to prevent them from claiming payment for extra hours worked, but admitted a supervisor penned an email referring to one of them as a “self-entitled Y-genner”.

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Grant Thornton, Moore Stephens sued over Linchpin audits
Financial Services 2022-09-30 6:04 pm By Sam Matthews

Embattled investment firm Linchpin Capital has sued auditors Grant Thornton and Moore Stephens for signing off on the compliance plan for a registered fund that allegedly used investor money to advance the company’s business interests and line its directors’ pockets.

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Mobile network deal with Telstra could lead to TPG price hikes, ACCC says
Competition & Consumer Protection 2022-09-30 11:14 pm By Christine Caulfield

A mobile network sharing agreement between Telstra and TPG is likely to boost the companies’ services to customers but could lead to TPG raising prices, the competition regulator said Friday.

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CBA defeats ‘misconceived’ ASIC conflicted remuneration case
Financial Services 2022-09-29 11:11 am By Sam Matthews

The Australian Securities and Investments Commission has suffered a defeat in proceedings alleging the Commonwealth Bank of Australia accepted conflicted remuneration through the sale of its Essential Super product, with a judge finding the regulator “ignored the circumstances” in which the product was distributed.

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