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A new report calls for an overhaul of mandatory product standards, saying reforms would increase competition and lead to annual savings of $350 million.
ASIC, banks delay rate rigging trial again as talks continue
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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.
Wine maker wants ACCC ok to bring booze to Deliveroo
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A family-owned South Australian wine maker has asked the Australian consumer regulator to bless a joint marketing effort with other wine producers, including Yalumba and Brown Brothers, to help sell wine through online food delivery service Deliveroo.
Tabcorp takes Tatts merger bid back to tribunal
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The Australian Competition Tribunal takes centre stage again this week in the long-running battle by wagering group Tabcorp to merge with lotto giant Tatts.
Corporate penalties to triple under new proposal
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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.
ACCC has banner year for enforcement
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Australia’s consumer regulator raked in sizable penalties in the past financial year, winning $41 million in competition and consumer protection matters combined. And with newly passed laws that give it more teeth, the ACCC could be set to inspire even greater fear in the coming year.
ACCC sounds death knell for domestic roaming
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Domestic roaming is not the answer to sub-par mobile phone coverage in regional Australia, the competition watchdog has said in a big win for Telstra.
Norton Rose reps Aussie pork group in ACCC bid
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The body representing Australian pork producers has asked the competition regulator for the OK to make its quality pork certification conditional on the use of an independent, third-party auditing company.
ANZ settles with ASIC on eve of trial
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Australia and New Zealand Banking Group Ltd. has reached an 11th-hour deal with the securities regulator over allegations of interest rate rigging.
White & Case celebrates Down Under as litigation cloud lifts
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Five months after settling litigation with Herbert Smith Freehills over the poaching of eight partners — and just one month after the settlement’s anti-poaching restrictions expired — U.S.-based firm White & Case has celebrated its entrance into Australia with launch parties in Melbourne and Sydney.