In the media
Over a hundred Australian foreign exchange traders fight
to avoid millions in losses
A number of clients of the US-based foreign exchange broker,
Foreign Exchange Capital Markets (FXCM), the world's largest
retail forex broker, have reported their cases to the Australian
Securities and Investments Commission (ASIC) and the Financial
Ombudsman Service (12 February 2015).
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Simply Energy pays $20,400 penalty for alleged
misleading door-to-door sales
IPower Pty Limited (IPower) has paid a penalty of $20,400
following the issue of two infringement notices by the ACCC for
alleged misleading door-to-door sales conduct. It is alleged that
the sales representatives told the consumers that there was an
'urgent problem' or 'something wrong' with their
existing electricity supply, when this was not the case (11
February 2015).
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Origin Companies ordered to pay penalties of $325,000
for misleading consumers about discounts under energy
plans
The Federal Court of Australia has ordered by consent that Origin
Energy Limited and two of its subsidiaries (Origin) pay penalties
totalling $325,000 for contravening the Australian Consumer Law
(ACL) by making false or misleading representations concerning the
level of discount that residential consumers in South Australia
would receive under a DailySaver energy plan (10 February 2015).
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Nimble's "smart little loans": smoking for
your financial health
In terms of their pricing structure, they charge "20 per cent
of the principal, plus 4 per cent of the principal per month",
which is the most allowed under Australian law for a small amount
credit contract. Nimble co-founder Greg Ellis said his company was
created to fight "predatory" payday lending (11 February
2015).
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Small brewers locked out of pubs by big corporates:
Choice
Australian boutique brewers have long complained that they are
getting squeezed out of the market by anti-competitive tactics from
their big rivals (11 February 2015).
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ASIC concerns prompt national warranty company to remove
a potentially misleading representation
The National Warranty Company (NWC) has agreed to remove
statements on its website that implied that being regulated and
licensed by ASIC would assist future claims by consumers. ASIC has
provided previous guidance to assist licensees comply with their
legal obligations with respect to avoiding false or misleading
statements and misleading or deceptive conduct, including specific
guidance (03 February 2015).
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Cases
Australian Competition and Consumer Commission v
Origin Energy Limited [2015] FCA 55
CONSUMER LAW – Penalty hearing – admitted
contraventions – whether agreed orders sought by the parties
appropriate in the circumstances – pecuniary penalties -
false or misleading representation with respect to the price of
electricity and natural gas - Competition and Consumer Act
2010 (Cth) Sch 2 (Australian Consumer Law) ss 29, 224;
Trade Practices Act 1974 (Cth) ss 76, 76E. More...
Facton Ltd v Xu [2015] FCA 66
TRADE PRACTICES – whether second respondent engaged in
misleading and deceptive conduct in contravention of ss 42 and 44
of Fair Trading Act 1987 and ss 18 and 29 of Australian
Consumer Law – whether second respondent involved in
contraventions of ss 52 and 53 of Trade Practices Act 1974
for purposes of s 75B. TORT – passing off – whether
second respondent passed off business as having sponsorship,
approval or connection with the applicants – whether second
respondent passed off counterfeit products as genuine products.
Australian Consumer Law (Sch 2 to the Competition and Consumer
Act 2010 (Cth)) ss 18, 29. More...
Electrolux Home Products Pty Ltd v Delap Impex
KFT [2015] FCA 62
PRACTICE AND PROCEDURE – default judgment – operation
of r 5.23(2)(c) of the Federal Court Rules 2011 (Cth). CONSUMER LAW
– misleading or deceptive conduct under s 18 of the
Australian Consumer Law – warranty not compliant with s 102
of the Australian Consumer Law – non-compliance with safety
standards under s 106 of the Australian Consumer Law –
knowing participation in contravention – remedies –
injunctions – when appropriate. TRADE MARKS – importing
and offering for sale in Australia goods bearing trade mark –
infringement action brought by authorised user under s 120 of the
Trade Marks Act – consent of registered owner. More...
Homemakers North Pty Ltd v MJM Investments Australia
Pty Ltd & Anor [2015] QDC 016
Summary judgment – alternatively, striking out part of
pleading – "involved" in misleading or deceptive
conduct – "knowingly concerned"- claim against
Muchow is that he was "involved in a contravention" by
MJM of s18 in Schedule 2, containing the Australian Consumer Law ,
to the Competition and Consumer Act 2010 (Cth) prohibiting
misleading or deceptive conduct. More...
Legislation
The Competition and Consumer Amendment (Australian
Country of Origin Food Labelling) Bill 2015
This Bill implements important reforms to the designation and
regulation of country of origin labelling for food in Australia.
This Bill mirrors one introduced in 2013, which lapsed at the end
of theof the 43rd Parliament. There are two key parts to the
amendments put forward in this Bill. The first enacts
Recommendation 41 of the Blewett Review, by creating a specific
section in the Competition and Consumer Act 2010
(Competition and Consumer Act) that deals solely with country of
origin claims with regard to food. The new provisions create a
single regulatory regime for most kinds of unpackaged and packaged
food, retaining mandatory labelling requirements, but superseding
the country of origin labelling requirements currently in the
Food Standards Australia New Zealand Act 1991. The second
part of this Bill enacts recommendations arising from the Senate
inquiry into Senator Milne's private senator's Bill, the
Competition and Consumer Amendment (Australian Food Labelling) Bill
2012. These amendments extend country of origin food labelling
requirements to all packaged and unpackaged food for retail sale
and clarify and restrict the range of labelling (and the meaning of
key terms in country of origin labelling) to three kinds of claim.
These changes simplify the system and provide greater transparency
for consumers. 12/02/2015 Senate: Introduced (Senators Milne
and Xenophon) and Second Reading Moved.
More...
This publication does not deal with every important topic or change in law and is not intended to be relied upon as a substitute for legal or other advice that may be relevant to the reader's specific circumstances. If you have found this publication of interest and would like to know more or wish to obtain legal advice relevant to your circumstances please contact one of the named individuals listed.