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The Australian Securities and Investments Commission has told a parliamentary committee that it plans to bring more than five court proceedings against AMP before the end of the year and has referred a number of investigations into the financial services giant for possible criminal prosecution.
The Australian Competition and Consumer Commission has initiated proceedings against Victorian electric utility Sumo Power for allegedly luring customers with the promise of discounts and low rates only to jack up their prices months later.
Former financial adviser Graeme Miller has been jailed for six years after pleading guilty to misappropriating $1.865 million in client funds in what a judge described as a "cruel and deceitful betrayal".
Google and Facebook will face penalties of at least $10 million for breaches of a media bargaining code drafted by the ACCC that aims to create a "level playing field" between Australian media companies and the tech giants.
A judge has handed ASIC a "narrow" win in its action against former Tennis Australia director Harold Mitchell, tossing most of the regulator's case and accusing it of "confirmatory bias".
The Australian Competition and Consumer Commission has come up short in its challenge to a ruling that dismissed its case against TPG over contract terms that allowed the internet provider to keep customers' unused prepaid funds on phone or internet plans.
The Australian Securities and Investments Commission told the government's class action inquiry that it was committed to making the existing class action regime work with upcoming regulations that will spell the end of its "light touch" approach to litigation funders.
A court has granted ASIC's bid to wind up an illegal managed investment scheme whose operators fled to India following the "systematic misappropriation" of almost $7 million in investor funds.
Westpac anti-money laundering compliance troubles continue to worsen, with the bank reporting an additional 365,000 incomplete or inaccurate threshold transaction reports to AUSTRAC.