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Australia's five biggest banks have paid out $21.4 million since the end of 2016 to consumers harmed by advice that violates financial services regulations, the Australian Securities and Investments Commission said Tuesday.
The ACCC has set out its priorities for 2018, and bigger penalties for big business flouting competition laws is top of the agenda, the commission's chief said Tuesday.
The Full Federal Court will hear arguments Monday from Prysmian Cavi E Sistemi that a $3.5 million fine handed down in a case brought by Australia’s competition regulator for alleged cartel conduct should be tossed out.
A tech start-up that failed to deliver on a promise that investors would triple their money and was found liable for the entire investment has won a major reversal of the ruling on appeal.
Drug giants GlaxoSmithKline and Novartis have conceded part of the ACCC's case that packaging on their Voltaren Osteo Gel breached the Australian Consumer Law, but said the label was changed almost a year ago.
When trial kicks off in the ACCC's case against a company and individual allegedly involved in a roof sheeting cartel, there will be one thing missing that courtroom spectators have come to expect from complex commercial proceedings - reams of paper.
The judge who sided with Medibank in the ACCC's failed case last year paid little attention to one of the consumer regulator's central arguments against the private health insurer, a court heard Monday.
A Federal Court judge in Melbourne has slapped Australia and New Zealand Banking Group with a $5 million fine for failing to properly vet customers' financial backgrounds when providing car loans.
A new bill that will crack down on predatory credit card lending practices sailed through Parliament on Thursday, the first reforms to pass in the wake of a Senate inquiry into the credit card market.
Australian consumers will soon be able to lodge grievances with a new body for resolving complaints with financial institutions.