The Bank of New Zealand has admitted misleading customers about how interest was calculated on certain non-profit accounts and agreed to pay approximately $1.56 million (NZ$2.6 million) to the Crown through an enforceable undertaking with New Zealand's Financial Markets Authority.
The Spanish competition regulator has revised one of its key compliance guidance documents, seeking to provide companies with greater clarity on how competition law compliance programs will be assessed and how those assessments may influence enforcement outcomes.
Apple's cloud business has become the latest test case for Europe's digital competition rules. Italy's Competition Authority said it has opened an investigation into Apple over whether the company is giving rival consumer cloud providers the same access to iPhone and iPad features that it reserves for its own iCloud service.
Australia's stock exchange operator has admitted it misled the market about the status of its long-running CHESS replacement project, setting the stage for a proposed $13.3 million (AUD $20.5 million) penalty and a further $1.95 million (AUD $3 million) contribution toward regulatory costs.
Tönnies Unternehmensbeteiligungen has been fined €1.15 million by Austria's Cartel Court after completing an acquisition months before notifying competition authorities, despite the deal ultimately receiving regulatory approval. The penalty stems from Tönnies' acquisition of a shareholding in Ritzenhoff, a manufacturer and distributor of glass and ceramic products. According to the Austrian Federal Competition Authority (AFCA), the transaction was completed on September 6, 2023. The company did not notify Austrian regulators until April 16, 2024.
The Federal Court of Australia has imposed $193 million (AUD $300.2 million) in penalties against collapsed contracts-for-difference issuer Union Standard International Group and two former authorized representatives after finding they engaged in systemic unconscionable conduct that left customers with losses exceeding $53 million (AUD $83 million).
Marketing disclosures are often treated as the final step in a product launch. A disclaimer is added, compliance signs off, the campaign goes live, and attention moves elsewhere. The Malta Financial Services Authority's latest supervisory review suggests that approach remains more common than regulators would like.