JPMorgan has taken ANZ to task for its “heroic endeavours to create an air of suspicion” around the conduct of ASIC and the ACCC prior to the filing of a landmark criminal cartel case, slamming the allegations as purely speculative.
ANZ is seeking information on whether the ACCC put pressure on ASIC to not pursue proceedings against JP Morgan over a $2.5 billion share placement that is at the centre of a closely watched criminal cartel case, saying the matter raised a “serious question” about potential abuse of power by the regulators.
The Australian Competition and Consumer Commission has found Barro Group’s 43 per cent stake in Adelaide Brighton, acquired over a number of years, will not harm competition in the cement market.
Japanese car maker Mazda has replied to an ACCC action alleging it violated the Australian Consumer Law by failing to provide consumers with refunds or no-cost replacements for their allegedly faulty vehicles, saying it was not required to replace dented and scratched cars.
A judge is expected to issue a temporary injunction Thursday barring Facebook and Instagram from blocking users who are customers of a Melbourne-based social media startup that has accused the companies of trying to quash competition.
The Australian Competition and Consumer Commission has opened a sector-wide investigation into price changes made last year in the building and demolition waste services market in New South Wales.
Car wash franchisor Geowash has been ordered to pay $4.2 million in penalties for overcharging franchisees to set up outlets and misleading them about how much revenue they could earn.
The Australian Competition and Consumer Commission’s case alleging STA Travel hit customers with $1 million in hidden fees and commissions through an add-on that purported to cover the cost of flight changes will go straight to a penalties hearing after the student travel agent made admissions.
Commonwealth Bank’s wealth management unit Colonial First State Investments faces a new class action on behalf of hundreds of thousands of customers who were allegedly charged excesssive premiums on insurance policies.
Bupa has launched court action to block a directive by the Aged Care Quality and Safety Commission as the aged care provider battles a separate case by the ACCC over payments allegedly charged to residents for services they did not receive.