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Sunshine Loans has lost its bid to have the Full Court weigh in on ASIC’s authority to seek penalties for Credit Code violations, in proceedings accusing the online lender of charging over $320,000 in prohibited fees.
Facebook has agreed to pay a $20 million penalty for misleading consumers by representing that its discontinued Onavo Protect mobile app would keep users’ personal activity data private, when in fact it was being collected for commercial use.
Executives from KPMG have condemned the PwC tax breach scandal as ‘disturbing’ and admitted past mistakes after the firm was rocked by an exam cheating scandal.
Commonwealth Bank of Australia has copped a record $3.55 million penalty for breaching spam laws after it sent more than 65 million emails without an easy way for individuals to unsubscribe.
ANZ has rubbished arguments from a competitor and the ACCC that its merger with Suncorp’s banking arm will reduce competition and hurt consumers, saying the watchdog had been asked to believe a “distorted and selective view” of the proposal.
Dell Australia has apologised to consumers and admitted misleading those who purchased add-on computer monitors by inflating the pre-discount price, sometimes to more than the product’s normal retail value.
A judge has warned against a franchisee class action against Hogs Breath Cafe Australia remaining in limbo after the restaurant chain’s bid to toss the case was set back by the second applicant’s poor health.
ASIC has issued an interim stop order barring a Melbourne-based investment broker from opening trading accounts or dealing in contracts for difference or margin foreign exchange contracts to retail investors.
The Tax Practitioners Board says that PricewaterhouseCoopers ignored its request for the names of nine partners put on leave in the wake of the tax leak scandal that has rocked the firm, with the regulator saying former executive Peter Collins was not the only partner who misused confidential information.
A company backed by private equity giant TPG which was allegedly fooled into paying part of a $1 billion deal to the wrong company wants default judgment in a case against the accused scammer, but a judge has raised doubts about attempts to serve the lawsuit.