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News >> Consumer Protection

Firms Fined US$1.2 Million for Reporting Breaches

19 Mar 2014
Written by World Watch

The United States (US) Financial Industry Regulatory Authority (FINRA) has announced that it has fined the following firms for failures relating to supervision and recordkeeping:

Published in Consumer Protection

US$1.2 Billion Penalty for Car Recall Matter

19 Mar 2014
Written by World Watch

The United States (US) Department of Justice (DoJ) has made available Attorney General Eric Holder's remarks (19 March 2014) announcing a Deferred Prosecution Agreement (19 March 2014) under which Toyota Motor Corporation (Toyota) is to pay a US$1.2 billion financial penalty and admit that it "misled US consumers by concealing and making deceptive statements about two safety issues affecting its vehicles, each of which caused a type of unintended acceleration". Mr Holder says that Toyota "by [its] own admission ... protected its brand ahead of its own customers".

Published in Consumer Protection

Solar Company Sanctioned for Misleading Behaviour

13 Mar 2014
Written by World Watch

The Department of Commerce (DoC) of the Australian state of Western Australia (WA) has announced that solar company Total Action Pty Ltd and its director Charles Posselt have been fined a total of A$18,000 for "misleading a consumer regarding the warranty on a product, and for breaching unsolicited trading laws".

Published in Consumer Protection

The United States Federal Trade Commission (FTC) has announced that it has approved an Order (10 March 2014) that settles charges that rent-to-own retailer Aaron's Inc (Aaron's) "knowingly played a direct and vital role in its franchisees' installation and use of software on rental computers that secretly monitored consumers, including taking webcam pictures of them in their homes".

Telco Fined for Online Data Breach

13 Mar 2014
Written by World Watch

The Office of the Australian Information Commissioner (OAIC) and the Australian Communications and Media Authority (ACMA) have released reports regarding a data breach which saw the information of 15,775 customers of telecommunications services provider Telstra becoming accessible online between February 2012 and May 2013:

The Australian Competition and Consumer Commission (ACCC) has announced that the Federal Court of Australia has handed down its decision in Telstra Corporation Limited v Vocus Fibre Pty Ltd [2014] FCA 198 (12 March 2014), dismissing an application by Australia's largest telecommunications provider Telstra that sought judicial review of the ACCC's jurisdiction to arbitrate disputes notified under the Telecommunications Act 1997 No. 47 (Cth).

Published in Consumer Protection

Italy's competition regulator Autorità Garante della Concorrenza e del Mercato (AGCM) has announced that it has fined the two pharmaceutical businesses a total of more than €180 million for "collud[ing] to exclude [the ophthalmic product] Avastin ... and channel demand towards the much more expensive [product] Lucentis, through an artificial distinction between the two products".

Published in Competition

The United States Securities and Exchange Commission (SEC) has announced that global investment bank and brokerage firm Jefferies has agreed to pay US$25 million to settle charges that it "fail[ed] to supervise employees on its mortgage-backed securities desk who were [misleading] customers about pricing".

Published in Consumer Protection

Telco Gives Undertaking on "Unlimited" Claims

13 Mar 2014
Written by World Watch

The Australian Competition and Consumer Commission (ACCC) has made available an undertaking (3 March 2014) given by Medion Australia Pty Ltd (Medion) after the telecommunications provider represented that its ALDImobile-branded "Unlimited Pack" product provided customers with "unlimited features" when in fact "significant usage restrictions applied".

Published in Consumer Protection

Speech - Consumer Protection in the Online Market

13 Mar 2014
Written by World Watch

The Australian Competition and Consumer Commission (ACCC) has made available Empowering consumers in the digital age, a speech delivered by ACCC chairperson Rod Sims at the ACCC-hosted National Consumer Congress 2014 in Sydney on 13 March 2014.

Published in Consumer Protection

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