The consumer watchdog has filed court proceedings against agricultural equipment supplier Agrison for allegedly misleading tractor purchasers about its warranties and after-sales services.
Australian Securities and Investments Commission deputy chair Daniel Crennan has quit his post after questions emerged over $70,000 in rental assistance payments to the regulator’s enforcement head.
The Commonwealth Bank of Australia has been fined $150,000 after a Federal Court judge found the bank had breached the law by increasing a problem gambler’s credit card limit but that the conduct was “not systematic, deliberate or covert”.
An offer by billionaire Clive Palmer to pay $21 million for all remaining shares in villas at the Palmer Coolum Resort in Queensland and drop 14 lawsuits over resort ownership has been rejected by villa owners.
ASIC chairman James Shipton has temporarily stepped aside pending an independent review of $118,000 in payments made to the regulatory head linked to his relocation from the US in 2018.
James Mawhinney, director of the besieged Mayfair Group, has lost his bid to slow down two proceedings filed by ASIC which he claims will have a “catastrophic” effect on his business, staff and investors.
The consumer watchdog has filed court proceedings against Fuji Xerox alleging the Japanese print giant’s standard form contracts with small businesses contain a bevvy of unfair contract terms that could cause them harm.
A judge has given the greenlight to AUSTRAC’s $1.3 billion penalty against Westpac over the bank’s 23 million breaches of money laundering and counter-terrorism laws, the biggest regulatory fine ever paid by an Australian company.
The Australian unit of French investment bank Société Générale must pay a $30,000 penalty after pleading guilty to four counts of breaching client money handling rules.
Former celebrity advisor and banking royal commission witness Sam Henderson has avoided jail time and been fined $10,000 after pleading guilty to dishonesty and defective disclosure offences for falsely telling clients he had completed a Master of Commerce degree.