ACCC social media sweep targets influencers

The ACCC has this week started a sweep to identify misleading testimonials and endorsements by social media influencers. It will also look at more than 100 influencers mentioned in over 150 tip-offs from consumers who responded to the ACCC’s Facebook post asking for information.

Most of the tip-offs from members of the public were about influencers in beauty and lifestyle, as well as parenting and fashion, failing to disclose their affiliation with the product or company they are promoting.

Consultation recommences on future regulation of the NBN

The ACCC has today published a consultation paper on NBN Co’s proposed variation to its Special Access Undertaking and is inviting submissions from interested parties.

The undertaking provides a framework for the economic regulation of the NBN until 2040, including rules for setting the maximum prices and service standards that NBN broadband providers could expect to receive.

ACCC holiday operations

As the ACCC will have limited operations during the Christmas and New Year period, we wanted to provide you with details of arrangements over the break.

ACCC offices: Our offices will be closed from 12 pm, Friday 23 December 2022 until 9am, Tuesday 3 January 2023.

RFG to pay certain franchisees as ACCC settles legal action

The ACCC has accepted a court-enforceable undertaking from Retail Food Group Ltd (ASX: RFG) in which RFG, the operator of many well-known franchising brands, has agreed to make payments to and waive historical debts of a number of affected current and former franchisees, in relation to the purchase of certain corporate stores by these franchisees.

RFG will also pay $5 million to franchisees of Michel Patisserie stores who paid levies into that franchise’s marketing fund between 1 July 2012 and 30 June 2017.

Insurance premiums in northern Australia remain high ahead of insurers joining reinsurance pool

Insurance affordability remains a significant issue in northern Australia and other high cyclone risk areas, according to the ACCC’s first insurance monitoring report.

The report finds that policyholders in those regions face much higher premiums on average, and that those premiums have increased much more quickly than for the rest of the country over the past decade.

Aussie Skips and its chief executive charged with alleged waste services cartel offences

Waste companies Aussie Skips Recycling and Aussie Skips Bin Services (together Aussie Skips) have been charged with two criminal cartel offences relating to price fixing for demolition waste services in Sydney. Aussie Skips’ chief executive Emmanuel Roussakis has also been charged with one criminal cartel offence for his involvement in the alleged conduct.

Aussie Skips and Mr Roussakis were charged with these offences after an investigation by the ACCC and referral to the Commonwealth Director of Public Prosecutions (CDPP).

ING Bank pays penalties for alleged breaches of Consumer Data Right Rules

ING Bank (Australia) Limited has paid penalties totalling $53,280 for allegedly failing to comply with Consumer Data Right (CDR) Rules and making a false or misleading representation to consumers, after the ACCC issued it with four infringement notices.

The ACCC alleges that ING Bank missed three important legislated deadlines and made a misleading statement to consumers on its website about the reliability and security of its CDR service.