A measure to add competition concerns to the mandate of the Australian Securities and Investments Commission was formally introduced in the House on Wednesday.
A joint parliamentary report released today blasted consumer protections for life insurance as weak, and called for an expansion of consumer protection laws to the life insurance sector and stronger enforcement powers for the Australian Securities and Investments Commission.
Corrs Chambers Westgarth has filed a shareholder class action against GetSwift alleging it provided inadequate disclosures and misled investors with its overhyped announcements about business contracts, one month after Squire Patton Boggs brought a similar suit.
ATM provider Cardtronics has agreed to change its small business contract, after the Australia’s consumer regulator found some of the terms of the contract were unfair.
The Royal Bank of Scotland has agreed to pay $12.58 million to settle a consumer class action brought on behalf of purchasers of its financial products.
The High Court of Australia has rejected an appeal by the Port of Newcastle to overturn a decision that declared the shipping channel at the port and gave the Australian Competition and Consumer Commission regulatory power to settle access disputes.
Telstra could pay as much as $10 million in penalties after admitting it misled customers by billing them for mobile phone apps they unwittingly bought.
The Australian government is mulling whether to extend unfair contract laws to insurance contracts, Finance Minister Kelly O’Dwyer said.
Three units of Vocus have entered agreements with the ACCC to refund customers for promising NBN speeds they couldn’t deliver.
Squire Patton Boggs has expanded its shareholder class action against GetSwift to include claims over statements the logistics software company made to shareholders regarding high-volume enterprise contracts.