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News >> Asia Pacific

The Australian Competition and Consumer Commission (ACCC) has announced that the Federal Court of Australia has handed down its decision in Australian Competition and Consumer Commission v Coles Supermarkets Australia Pty Limited [2014] FCA 634 (18 June 2014), finding under the Competition and Consumer Act (2010) 1974 No. 51 (Cth) that claims made by Coles Supermarkets Australia (Coles) in relation to the baking processes of some of its bread products were false, misleading and deceptive.

Published in Consumer Protection

Company Breached Continuous Disclosure Laws

26 Jun 2014
Written by World Watch

The Australian Securities and Investments Commission (ASIC) has announced that Newcrest Mining (Newcrest) has admitted contraventions of the Corporations Act 2001 No. 50 (Cth) involving the selective disclosure of market-sensitive information to analysts and failing to disclose this information to the relevant bourse.

Published in Financial Integrity

The Australian Competition and Consumer Commission (ACCC) has announced that it has accepted a court-enforceable undertaking (10 June 2014) by Barossa Farm Produce "for false or misleading representations and misleading or deceptive conduct in contravention of [Schedule 2 (The Australian Consumer Law) to the Competition and Consumer Act (2010) 1974 No. 51 (Cth)]".

Published in Consumer Protection

The Australian Competition and Consumer Commission (ACCC) has announced that the Federal Court of Australia has fined Titan Marketing A$750,000 for conduct in its door-to-door sale of first aid kits and water filters to certain vulnerable Indigenous Australian and other consumers.

Published in Consumer Protection

The Full Federal Court of Australia has handed down its decision in ABN AMRO Bank NV v Bathurst Regional Council [2014] FCAFC 65 (6 June 2014). The court has dismissed an appeal by ABN Amro Bank, Standard & Poor's (S&P) and Local Government Financial Services, ruling that local councils are entitled to compensation after they were sold financial products with the safest AAA credit rating, which turned out to be highly risky investments.

Published in Financial Integrity

Pizza Restaurant Pay Practices Result in Fine

12 Jun 2014
Written by World Watch

The Australian Fair Work Ombudsman (FWO) has announced that two La Porchetta pizza restaurants and their owner have been fined a total of A$334,818 for underpaying 111 employees.

The Local Court of the Australian state of New South Wales has handed down fines of A$1.25 million for 165 speeding-related offences by trucking company Scott's that took place during 2010 - 2012. The penalties have reportedly been levied against the company's manager and the Scott's Group of Companies director.

The Australian Competition and Consumer Commission (ACCC) has announced that Disbury Holdings Pty Ltd, trading as Gotta Getta Group (GGG), has paid A$20,400 in penalties after the ACCC issued two infringement notices. The notices were issued because the ACCC had reasonable grounds to believe that two advertisements for GGG's solar systems, published in 2013, contained false or misleading representations.

Published in Consumer Protection

Bank Apologies for Double Charge Error

05 Jun 2014
Written by World Watch

National Australia Bank (NAB) has apologised to its customers that were affected by an error which caused credit card payments made using NAB Visa debit cards to be charged twice.

Published in Consumer Protection

ASIC Areas of Focus - 30 June 2014 Reports

05 Jun 2014
Written by World Watch

The Australian Securities and Investments Commission (ASIC) has announced its Focuses for 30 June 2014 financial reports (30 May 2014), in relation to financial reports for listed entities and other entities of public interest with a large number of stakeholders.

Published in Financial Integrity

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