ASIC has taken action to stop several proposed initial coin offerings or token-generation events (together, ICOs), targeting retail investors.
ACCC Chair Rod Sims has put telecommunications companies on notice to ensure their advertising is clear and transparent or face court action from the regulator, including much higher penalties and a warning that the ACCC may bring proceedings against executives who knowingly approve misleading advertisements.
Australian Hearing Services has paid penalties totalling $37,800 after the ACCC issued three infringement notices alleging the Australian Government owned corporation engaged in false or misleading conduct in connection with the supply of hearing services to consumers.
Ozwear Connection (Ozwear) has paid penalties totalling $25,200 after the ACCC issued two infringement notices for alleged false country of origin representations made about its “Classic Ugg” footwear range.
The ACCC has commenced proceedings against hearing aid retailers Oticon Australia Pty Ltd and Sonic Innovations Pty Ltd, alleging that both businesses made false and misleading representations to pensioners in advertisements for hearing aids supplied under the Australian Government Hearing Services Program.
From Monday 2 July 2018, the NSW prohibition on offering any inducement to participate in any gambling activity, including an inducement to open a betting account or to bet more frequently, will be strengthened to also prohibit any inducement offered with a disclaimer.
Wagering company Neds.com.au has been convicted and fined $18,000 for publishing illegal advertising that offered NSW residents inducements to gamble.