General insurer Tower has been ordered to pay a $7 million (NZ$11.8 million) penalty after the company overstated the value of its multi-policy discount and overcharged tens of thousands of customers for years.
The European Commission has kicked off a formal antitrust investigation into whether Google is abusing its market power by tapping into online content, from news publishers to YouTube creators, to fuel its artificial intelligence services without fair terms or compensation.
7-Eleven and its parent company Seven & i Holdings will pay a $4.5 million penalty to resolve Federal Trade Commission allegations that the convenience store giant violated a 2018 antitrust consent order by purchasing a competing fuel outlet in St. Petersburg, Florida without giving the agency prior notice.
A U.S. audit firm has been hit with regulatory sanctions after federal oversight officials found it leaned on an unregistered China-based firm to handle major portions of its audit work and failed to properly supervise or disclose that involvement.
Securities America for years failed to properly supervise the sale and switching of Class A mutual funds, leading investors to pay more than $2 million in avoidable costs, according to the Financial Industry Regulatory Authority (FINRA). In a settlement finalized through a Letter of Acceptance, Waiver, and Consent, which the firm neither admitted nor denied, FINRA issued a censure, a $1 million fine, and $2,019,040 in restitution to impacted customers. Interest will also be added to each payment.
The European Commission issued its first enforcement actions under the Digital Services Act (DSA) on Wednesday, placing two of the world’s largest platforms on very different tracks toward compliance.
Australia’s corporate watchdog is urging companies to do more to protect employees who raise the alarm on misconduct, after uncovering major inconsistencies in the way whistleblower programs are being implemented across the country. A new benchmarking review assessed 134 entities across 18 industries. This review builds on several years of work focused on strengthening Australian whistleblower protections.