South Korea’s competition regulator has taken enforcement action against BRKorea Co., finding that the company pushed through nationwide promotional campaigns that required franchisees to share costs without first securing the legally required level of approval.
The Dubai Financial Services Authority has fined reinsurance broker Ed Broking (MENA) $455,176 after concluding that the firm engaged in misleading and deceptive conduct across a series of reinsurance placements in the Dubai International Financial Centre.
Australia’s Federal Court has ordered Australian Unity Funds Management Limited to pay a civil penalty of $4.95 million (AUD 7.125 million) after finding the firm failed to properly assess whether a retail investment product was suitable for investors, breaching the country’s design and distribution obligations.
An Australian federal court has ordered BPS Financial to pay $9.7 million USD (AUD 14 million) in penalties over its promotion and operation of the Qoin Wallet, a crypto-based payment product that regulators said was sold without the required licenses and backed by misleading claims.
Video games were once a hobby defined by premium products. Consoles often cost several hundred dollars, and games themselves were priced around $60 for most of the last two decades. Purchasing a console and building a collection of games was an intentional act. A console is no small purchase, especially for a young audience or the generous parent. The purchase of individual games was typically a decision informed by quality and value from a discerning consumer.
Italy’s competition watchdog has opened a first-of-its-kind antitrust investigation into alleged collusion in the labour market, turning its attention to a cluster of companies operating at the heart of the country’s automated packaging industry.
Europe’s new anti-money laundering authority is taking another step toward its future role as a frontline supervisor, as Anti-Money Laundering Authority (AMLA) prepares to launch a data collection exercise aimed at stress-testing the risk models it will rely on to oversee the financial sector.