ASIC’s latest Enforcement and Regulatory Update Report (for the period October to December 2023) reveals ASIC’s focus on protecting consumers and Australians generally by targeting digitally enabled misconduct – including stopping online investment scams at the source and taking down scam websites. This is in addition to ASIC’s continuing focus on strengthening financial market integrity, insurance institution failures, greenwashing and improving regulatory and legal compliance
Read more
Federal Court proceedings recently commenced by the ACCC against national fashion retailer, Mosaic Brands Limited, places businesses on notice to make sure that they can comply with their advertised delivery timeframes and deliver on time – or risk high penalties for making false or misleading representations to consumers in breach of the Australian Consumer Law. Mosaic Brands Limited owns Katies, Noni B and Rivers.
Read more
In the ACCC;’s second submission to the Australian Government’s Competition Review, the ACCC is calling for urgent reforms to Australia’s current laws governing mergers and acquisitions to ensure they are effective in preventing anti-competitive transactions and acquisitions which have the effect of harming consumers and competition.
Read more
On 17 January 2024, the Australian Government released its Interim Response to consultations held on Safe and Responsible AI in Australia. The Interim Response shows that the Government will be targeting the use of AI in ‘high-risk settings’ with ‘mandatory guardrails’ for the safe AI design, development and deployment in high risk settings being considered in close consultation with industry and the community.
Read more
December 2023 – The Office of the Australian Information Commissioner (OAIC) has launched an inquiry into whether TikTok’s use of marketing pixels, which track people’s online habits, breaches Australia’s privacy laws. The inquiry follows TikTok’s recent fines in Europe and the UK – including a fine of €345m (AU$560m) for breaking the European Union (EU) data laws about children’s accounts.
Read more
