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ACCC shuts lawyers for cartel immunity seekers out of the room
Competition & Consumer Protection 2024-12-19 11:25 pm By Sam Matthews

Over objections from the Law Council, the ACCC has updated its cartel immunity policy to bar lawyers for companies seeking immunity from interviews with applicants for derivative immunity.

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Swoosh accused of providing credit to financially stressed customers
Financial Services 2024-12-19 11:44 pm By Andy Sidler

ASIC has sued credit contractor Swoosh Finance for allegedly providing unsuitable loans with high fees and interest rates to customers who showed “clear signs of financial distress”.

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ACCC won’t give Catholic hospitals blessing to boycott private insurers
Healthcare 2024-12-19 11:45 pm By Christine Caulfield

The competition regulator plans to block a group of Catholic hospital operators from collectively boycotting large private health insurers in the event funding negotiations fail.

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ASIC claims crypto firm Binance denied protections to derivatives investors
Cryptocurrency 2024-12-18 5:11 pm By Julia Kanapathippillai

Crypto firm Binance deprived hundreds of customers of consumer protections by misclassifying them as wholesale clients and allowing them to buy risky derivatives, ASIC says.

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Landmark $50M settlement over Meta’s Cambridge Analytica scandal
Privacy & Cybersecurity 2024-12-17 1:34 pm By Julia Kanapathippillai

Facebook owner Meta has agreed to pay $50 million to settle action by the privacy commissioner over the Cambridge Analytica scandal.

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Active Super says ASIC penalty would fall on ‘poor old members’
Financial Services 2024-12-17 11:33 pm By Cindy Cameronne

The trustee for Active Super has argued against a $13.5 million penalty proposed by ASIC for greenwashing, saying the tax burden would impact on its members. 

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Ex-EY partner’s reputation ‘only thing of value to him’, court told
Tax 2024-12-17 4:20 pm By Cindy Cameronne

An ex-EY partner accused of pocketing $700,000 in commissions in a tax loss scheme wants to vindicate his reputation at trial but is weighing whether to keep his silence, a court has heard.

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AUSTRAC accuses online betting firm Entain of money laundering failures
Gaming 2024-12-17 1:37 pm By Andy Sidler

The operator of online gambling sites Ladbrokes and Neds has been taken to court by AUSTRAC for alleged “systemic” money laundering compliance failures.

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Mobil taken to court for ‘misleading’ statements about fuel
Energy & Natural Resources 2024-12-17 11:51 pm By Julia Kanapathippillai

The ACCC alleges Mobil Oil breached consumer laws by falsely claiming it was selling a specific brand of fuel at six Far North Queensland stations.

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ASIC suit claims HSBC failed to protect customers from scams
ASIC 2024-12-16 11:15 pm By Julia Kanapathippillai

ASIC has launched legal proceedings against HSBC, alleging the bank did not have appropriate controls to protect customers from scammers.

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