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BlueScope loses appeal of record $57.5M penalty for attempted price fixing
Competition & Consumer Protection 2025-08-29 12:35 pm By Christine Caulfield

An appeals court has dismissed BlueScope Steel’s challenge to a record penalty for engaging in attempted price fixing.

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Noni B owner to cop $25M penalty for delivery time promises
Competition & Consumer Protection 2025-08-28 11:44 pm By Cat Fredenburgh

Noni B owner Mosaic Brands has been hit with a $25 million penalty for breaching consumer laws by failing to delivery 740,000 packages within the time frame specified on its website.

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ASIC cancels MWL Financial’s licence over Shield Master Fund investments
Financial Services 2025-08-28 11:12 pm By Cat Fredenburgh

The corporate cop has cancelled the financial services licence of MWL Financial and banned its director for 10 years for allegedly directing more than 750 clients to invest a combined $155 million into Keystone’s failed Shield Master Fund.

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Nuix must foot $20M in legal bills given ‘notorious’ costs of securities class actions: judge
Insurance 2025-08-27 11:31 pm By Cat Fredenburgh

Nuix is on the hook for $20 million before its insurers will cover its legal bills for suits over its $1.8 billion float, with a judge saying there was a good reason for the significant retention given the “notorious” expense of securities class actions.

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TerraCom hit with $7.5M penalty in ASIC whistleblower case
ASIC 2025-08-27 11:55 pm By Christine Caulfield

A judge has hit coal producer TerraCom with a $7.5 million penalty in ASIC proceedings alleging it made misleading statements to the market that damaged a whistleblower’s reputation. 

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RAMS accuses class action of trying to ‘hijack’ ASIC case
Class Actions 2025-08-26 11:43 pm By Julia Kanapathippillai

Westpac’s defunct mortgage unit RAMS has accused a class action by former franchisees of attempting to “hijack” civil penalty proceedings by the corporate regulator by seeking to intervene in the case.

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ASIC takes Equity Trustees to court over Keystone’s defunct Shield fund
Financial Services 2025-08-26 1:11 pm By Christine Caulfield

The corporate regulator has brought its first action targeting a superannuation trustee as part of a wide-ranging investigation to claw back $480 million pumped into Keystone’s failed Shield Master Fund.

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Coles, Woolworths class actions ‘put to sleep’ until ACCC trial
Competition & Consumer Protection 2025-08-25 11:01 pm By Cindy Cameronne

A judge will hit pause on two class actions against Coles and Woolworths over allegedly illusory discounts after hearing a bid to bind group members to the findings in related proceedings by the ACCC. 

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Media mogul Antony Catalano spared from witness box in Keybridge case
ASIC 2025-08-25 11:27 pm By Julia Kanapathippillai

Media mogul Antony Catalano will not be required to provide evidence about a deal between Keybridge Capital and Magellan Financial Group after claiming it could put him at risk of incriminating himself as ASIC probes the transaction.

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Mastercard doc privileged despite ‘inadvertent’ disclosure during Baker McKenzie review
Competition & Consumer Protection 2025-08-22 11:46 pm By Cindy Cameronne

A judge has found that Mastercard can maintain legal professional privilege over a document that was inadvertently sent to the ACCC in 2020 after lawyers at Baker McKenzie had to review 100,000 documents in less than two months.

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