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News >> Asia Pacific

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

The Australian Competition and Consumer Commission (ACCC) has announced that it has signed a memorandum of understanding (MoU) with the Ministry of Commerce of the People's Republic of China (MOFCOM) to provide for "increased communication and cooperation between [the ACCC and MOFCOM] on mergers which affect both the Australian and Chinese markets".

Published in Competition

The Hong Kong Securities and Futures Commission (SFC) has made available a statement of disciplinary action (undated) against Deutsche Bank Aktiengesellschaft (Deutsche), fining it HK$1.6 million (approximately US$206,000/€151,000) for regulatory breaches and internal control failings in its trading activity and positions in the Stock Exchange of Hong Kong (SEHK).

Published in Financial Integrity

An unnamed agribusiness investment management company (the Company) is considering taking legal action since learning that an email inquiry from a potential investor seeking sensitive financial information about the Company was in fact sent from a computer owned by competitor Macquarie Agricultural Funds Management (MAFM) using a fake email address.

Published in Competition

Accounting Company to Repay Franchise Fees

21 May 2014
Written by World Watch

The Federal Court of Australia (FCA) has handed down its decision in Australian Competition and Consumer Commission v Taxsmart Group Pty Ltd [2014] FCA 487 (16 May 2014), in which accounting company Taxsmart has admitted to breaching 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 as part of its ongoing proceedings against certain Harvey Norman franchisees, the Federal Court of Australia has ordered a further four franchisees to pay civil pecuniary penalties for making false or misleading representations to consumers regarding their consumer guarantee rights.

Published in Consumer Protection

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