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JPMorgan GC sat in on ACCC interviews despite involvement in alleged cartel, court hears
ACCC 2021-11-03 9:23 pm By Miklos Bolza Sydney

JPMorgan’s general counsel for Australia and New Zealand was allowed to sit in on witness interviews during an ACCC cartel investigation into ANZ’s $2.5 billion share placement despite allegedly being involved in the cartel conduct, a judge has heard.

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IVF provider Virtus’ confidentiality claims ‘border on ridiculous’, judge says
ACCC 2021-11-03 9:02 pm By Cindy Cameronne Sydney

A judge has rejected part of IVF provider Virtus Health’s bid for redactions in a recent decision from the court temporarily blocking the company from purchasing rival Adora Fertility, saying some of the confidentiality claims were “staggering” and “border on ridiculous.”

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High Court upholds challenge to backpacker tax
Appeals 2021-11-03 4:36 pm By Cat Fredenburgh Melbourne

The High Court has found a 15 per cent ‘backpacker tax’ imposed on holders of Australian working holiday visas violates a double taxation agreement between Australia and the UK.

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Judge slams indictment in cartel case as ‘complete shemozzle’
ACCC 2021-11-03 3:41 pm By Miklos Bolza Sydney

A judge has declined to quash the indictment in a high-profile criminal case over a $2.5 billion ANZ share placement but sent prosecutors back to the drawing board to remedy its defects, calling the state of affairs “a complete shemozzle”.

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Fees for no service class action must clarify ‘serious allegations’ against AMP
AMP 2021-11-02 4:27 pm By Cindy Cameronne Sydney

A judge has ordered a class action against AMP to provide more detail in its case accusing the financial services firm of failing to disclose information to shareholders about allegedly misleading ASIC and charging clients fees for no service.

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ASIC takes digital lender Ferratum to court for overcharging borrowers
ASIC 2021-11-02 11:07 am By Bianca Hrovat Sydney

The Australian Securities and Investments Commission has accused Finnish microloan company Ferratum of overcharging vulnerable, low-income consumers during the height of the COVID-19 pandemic.

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ACCC puts government agencies on notice about bid-rigging
ACCC 2021-11-01 6:29 pm By Cindy Cameronne Sydney

The Australian Competition and Consumer Commission has warned public agencies not to encourage businesses to coordinate bids for tenders, saying an investigation showed government departments had “contemplated cooperation” by competitors.

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BlueScope meeting made distributor ‘extremely uncomfortable’, ACCC tells court
ACCC 2021-11-01 5:58 pm By Cindy Cameronne Sydney

BlueScope general manager Jason Ellis made executives of a steel distributor “extremely uncomfortable” in a meeting where he presented the steel giant’s price list, a court hearing the ACCC’s price-fixing case was told Monday.

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Criminal cartel case dropped against ANZ, group treasurer over $2.5B share placement
ACCC 2021-10-29 9:27 pm By Christine Caulfield Melbourne

In a major blow to the competition regulator’s high-profile price-fixing case over ANZ’s $2.5 billion capital raising, prosecutors have dropped all charges against the bank and its group treasurer, Rick Moscati.

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Qantas COVID-19 mask mandate ‘lawful and reasonable’: FWC
Ashurst 2021-10-29 5:44 pm By Miklos Bolza Sydney

The Fair Work Commission has ruled that a mask mandate issued by Qantas as part of its Fly Well program in response to the COVID-19 pandemic was “lawful and reasonable” as it tossed an unfair dismissal case brought by a former flight attendant.

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