Commonwealth Bank of Australia has agreed to pay $3 million after the corporate watchdog found two of the lender's financial planning arms charged customers millions of dollars for advice they did not receive.
SPECIAL REPORT: The state government’s plan to remove the payroll tax exemption for employees undertaking training has secured the support of the Greens and The Nationals WA, despite strong opposition from the Liberals and the state's leading business lobby group.
Perth-based kitchen appliances firm Thermomix has been ordered to pay $4.6 million in penalties after the Federal Court of Australia found that the company misled customers when its products were found to be dangerously faulty.
Australia’s corporate watchdog has commenced legal proceedings against Rio Tinto and two former executives over its disastrous $US4 billion foray into Mozambique coal, 17 months after regulators in the UK and US took action on the same matter.
The corporate watchdog has banned Perth-based financial adviser Philip Leake from providing financial services for the next five years after he was found to have given poor advice to a number of clients.
Woolworths’ liquor arm has resigned from the Liquor Stores Association of Western Australia, following the association's support for state government plans to restrict the growth of large liquor stores, such as Dan Murphy's and First Choice.
Thousands of Western Australian scam victims could be refunded millions of dollars after US legal authorities issued Western Union a $US586 million ($750 million) penalty for aiding fraud over a 13-year period.
Australia’s major banks are under mounting pressure today, with a draft report from the Productivity Commission raising doubts about competition levels as regulators apply more scrutiny to three of the 'big four'.