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Crown, AUSTRAC reach deal on penalty but court wants guidance on ill-gotten profits
Allens 2023-05-12 3:25 pm By Sam Matthews

Crown Resorts has reached agreement on a proposed penalty in AUSTRAC’s case alleging “widespread and serious non-compliance” with anti-money laundering and counter terrorism financing laws, but the presiding judge says more information is needed for the court to fix a fine.

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Google says competition class action claims ‘make no sense’
Allens 2023-05-12 9:14 pm By Sam Matthews

Google has denied class action that it distorted competition in the app marketplace and left consumers paying higher prices, pointing out in its defence there are alternative app stores on its Android platform.

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Ex-Vocus chair indicted on insider trading charges
Technology 2023-05-12 12:36 pm By Cat Fredenburgh

Former Vocus chairman Vaughan Bowen has been indicted on insider trading charges, five months after prosecutors dropped the same charges after a contested committal hearing.

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Australian Mines ex-director hit with $70,000 penalty for conference representations
ASIC 2023-05-12 11:57 pm By Cat Fredenburgh

A former director of Australian Mines has copped at $70,000 penalty in ASIC proceedings accusing him of making false and misleading representations at mining investment conferences in 2018.

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Insurance Australia agrees to $40M penalty in ‘very serious’ case over unpaid discounts
ASIC 2023-05-11 4:57 pm By Cindy Cameronne

Insurance Australia has agreed to pay a $40 million penalty in a case by the Australian Securities and Investments Commission alleging it short-changed NRMA customers a staggering $60 million in promised loyalty discounts. 

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Veolia wins discovery for potential case against EnergyAustralia
Competition & Consumer Protection 2023-05-11 11:05 pm By Christine Caulfield

Water services company Veolia Water Australia has won its bid for EnergyAustralia and two mining companies to hand over information about the quality of mine water they send for treatment, with a judge finding it could be “materially worse” than promised.  In a judgment handed down on Wednesday, Federal Court Justice Scott Goodman ordered EnergyAustralia…

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Art school resolves former dean’s dismissal-by-Instagram case
Article 2023-05-11 4:32 pm By Christine Caulfield

The former dean of a Melbourne art school has resolved her case alleging she was unfairly sacked via Instagram direct message while on annual leave.

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University of Technology Sydney to backpay staff $4.4M
Education 2023-05-11 11:34 pm By Gareth Baker

The University of Technology Sydney will backpay staff more than $4.4 million, plus $1.3 million in superannuation and interest, after agreeing to an enforceable undertaking with the Fair Work Ombudsman.

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Lenders of collapsed Arrium lose appeal over directors’ loan drawdowns
Amy Munro 2023-05-10 12:23 pm By Sam Matthews

Commonwealth Bank and other lenders of failed steel giant Arrium have lost a second attempt to put two of the company’s directors on the hook for alleged misleading representations on loan drawdown notices ahead of its $2.8 billion collapse.

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IG Markets hit with class action over risky CFDs
Class Actions 2023-05-10 11:50 pm By Cat Fredenburgh

IG Markets has been hit with a class action on behalf of up to 20,000 everyday investors who have allegedly lost hundreds of millions of dollars trading in risky financial products known as contracts for difference, or CFDs.

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