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The ACCC has revealed that it will bring at least four new competition cases this year, with chairman Rod Sims also promising that the regulator could pick up the pace when it comes to launching proceedings.
ASIC pans Wagyu and shiraz ‘thought experiments’ in Westpac home loan appeal
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ASIC has criticised a Federal Court judge for his ‘thought experiments’ around prospective home loan applicants feasting on Wagyu beef and shiraz, as the regulator challenges the judge’s dismissal of its responsible lending case against Westpac.
Former analyst pleads guilty to Big Un insider trading
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A former Maple Brown Abbott analyst has pleaded guilty to insider trading and communicating inside information in relation to $1.6 million in shares of collapsed video company Big Un.
Geowash execs appeal loss in ACCC case
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Two Geowash executives have appealed a ruling that found they were knowingly involved in the car wash franchisor’s unconscionable conduct in its dealings with franchisees.
‘Negligent’ insurance broker must pay client’s copyright settlement with Microsoft
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An insurance broker breached its duties to a software company and must cover the costs of a settlement it reached with Microsoft for copyright infringement, a court has found.
AFP agrees to keep eyes off seized files while ABC mulls appeal
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The Australian Broadcasting Corporation has secured a short-lived agreement by the Australian Federal Police not to look at the material seized in a controversial raid on the national broadcaster’s headquarters as it considers whether to take its battle with the agency to an appeals court.
Spain ordered to pay $375M in arbitration dispute
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The Kingdom of Spain must pay $375 million after it failed in its bid to claim sovereign immunity from the enforcement of two foreign arbitration awards related to renewable energy investments.
No harm, no foul? Full Court weighs ACCC challenge to flushable wipes ruling
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The ACCC claims it was not required to prove Kimberly-Clark’s flushable wipes caused actual harm to sewers, as it challenges a ruling that disposed of its consumer law case against the personal care giant.
TAL refutes ASIC claims, stands by denial of coverage for cancer patient
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Life insurer TAL has stood by its decision to deny coverage to a cancer patient, which landed it in hot with the Australian Securities and Investments Commission, saying it would not have issued the policy had it known the patient saw a psychologist on several occasions.
New shareholder class action against IOOF alleges extensive misconduct
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Financial services provider IOOF may have beaten back regulatory action, but it still faces the wrath of shareholders, with a new class action claiming the firm engaged in corporate misconduct that includes insider trading, front running and breaches of trustee duties.