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.
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.
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.
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.
Australia and New Zealand Banking Group Ltd. has reached an 11th-hour deal with the securities regulator over allegations of interest rate rigging.
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.
AFL app users will get refunds from Telstra after the consumer watchdog called the company out over its app ads, which gave the impression subscribers could stream live matches full-screen on mobile phones and tablets.
Major changes to Australian competition law that include a ban on companies engaging in concerted practices have passed Parliament, and the competition watchdog says it’s ready to crack down on offenders.
Electricity prices in Australia have skyrocketed and its hurting Australians, the consumer regulator has said in a damning report that faults power companies for confusing customers and finding loopholes in the law.
Waste management giant JJ Richards & Sons has been ordered by a judge to remove unfair terms in contracts with small business customers, in a win for the consumer regulator.
For information on rights and reprints, contact subscriptions@lawyerly.com.au
