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Having failed to get the competition regulator's OK to jointly bargain with Apple Pay, three of Australia's largest banks are banding together to create their own smartphone app.
The Australian Securities and Investments Commission has won a $1 million penalty against a financial advice firm for breaching the so-called best interest duty, the first ever penalty imposed for such a violation.
The likes of Google, Facebook and Amazon could find themselves in the crosshairs of a newly empowered Australian competition regulator, and Rod Sims wants to move fast, the chairman told Lawyerly.
Complaints to the Telecommunications Industry Ombudsman about the National Broadband Network increased 79 percent in the past year, even when new additions to the network were taken into account, according to a new report by the Australian Competition and Consumer Commission.
Aft Pharmaceuticals has denied claims brought by consumer goods giant Reckitt Benckiser that ads for Aft's over-the-counter painkiller Maxigesic are misleading and causing harm to Reckitt's brand.
A federal court judge has ordered Australian computer retailer MSY Technology to cough up $750,000 for misrepresenting consumers rights to remedies on faulty products.
The trial against three of Australia's biggest banks over alleged interest rate rigging was pushed back again on Wednesday after lawyers for National Australia Bank and Australia and New Zealand Banking Group told the Federal Court they were still in settlement talks with the securities regulator.
The Australian Securities and Investments Commission could get more teeth under a new proposal by a Turnbull government taskforce released Tuesday, with penalties for corporate crime tripling from $1 million to $3 million.
Australia and New Zealand Banking Group Ltd. has reached an 11th-hour deal with the securities regulator over allegations of interest rate rigging.
Electricity prices in Australia have skyrocketed and its hurting Australians, the consumer regulator has said in a damning report that faults power companies for confusing customers and finding loopholes in the law.