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The United Kingdom (UK) Financial Conduct Authority (FCA) has made available a Final Notice (30 January 2014) setting out its decision to fine State Street Bank Europe Ltd and State Street Global Markets International Ltd (jointly, State Street UK) approximately £22.9 million for breaching Principles 3 (Management and control), 6 (Customers' interests) and 7 (Communications with clients) of the FCA's Principles for Business (January 2014).

Published in Consumer Protection

The United Kingdom Office of Fair Trading (OFT) has released its Principles for online and app-based games (undated), advising games producers that they must ensure by 1 April 2014 that "their games do not breach consumer protection law".

Published in Consumer Protection

The Australia and New Zealand Banking Group Ltd (ANZ) is comprehensively reviewing key parts of its Australia-based personal and small business account operations as it commences the process of refunding 235,000 home loan customers a total of A$70 million in overcharged interest.

Published in Consumer Protection

The United Kingdom Financial Conduct Authority (FCA) has announced that investors affected by unsuitable advice leading to investment in the high-risk CF Arch cru Investment and Diversified funds (Arch cru) have begun receiving compensation packages, with over £8 million already paid out to consumers and the total compensation to be paid out calculated at £31.47 million.

Published in Consumer Protection

The New Zealand Commerce Commission (NZCC) has announced that telecommunications provider Vodafone NZ Ltd (Vodafone) has paid consumers a total of NZ$268,231 as part of its settlement of Commerce Commission action under the Fair Trading Act 1986 No. 121 (NZ). The Commerce Commission stated that its action related to Vodafone's promotion of its mobile internet service, called "Broadband Lite".

Published in Consumer Protection

Major Fine for Bank's Misinformation Practices

22 Jan 2014
Written by World Watch

The Poland Office of Competition and Consumer Protection (UOKiK) has made available its Decision (31 December 2013 - Polish language version available only) in relation to proceedings against bank PKO BP.

Published in Consumer Protection

Google Takes Action on Terms of Service Breaches

22 Jan 2014
Written by World Watch

Google Inc (Google) has withdrawn two third-party-developed software extensions for its Chrome web browser from the Chrome web store after the extensions were updated so as to breach Google's terms of service.

Published in Consumer Protection

The United States (US) Federal Trade Commission (FTC) has made available Agreement containing consent order (undated), which proposes that Apple Inc (Apple) pay at least US$32.5 million to fully refund consumers who, according to the FTC's Complaint (undated), were unfairly billed by Apple for certain online transactions.

Published in Consumer Protection

The High Court of Australia (the High Court) has handed down its judgment in Australian Competition and Consumer Commission v TPG Internet Pty Ltd [2013] HCA 54 (12 December 2013), allowing the Australian Competition and Consumer Commission's (ACCC) appeal from the Full Federal Court of Australia and holding that TPG Internet Pty Ltd (TPG) engaged in misleading and deceptive conduct under Australian consumer laws by failing to adequately disclose that its unlimited ADSL2+ service came with various extra charges.

Published in Consumer Protection

Scare Tactics Were Used to Sell Water Filters

18 Dec 2013
Written by World Watch

The New Zealand (NZ) Commerce Commission has announced that water filter retailer Love Springs Ltd (Love Springs) and its director Phillip Smart have been fined NZ$355,000 and NZ$200,000 respectively for breaching the Fair Trading Act 1986 No. 121 (NZ) in relation to its door-to-door sales during 2009–2010.

Published in Consumer Protection

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