DECEPTIVE ADVERTISING – AUSTRALIA

Suncorp kept misleading ads campaign

roymorgansocial Leave a comment

Original article by Michael Roddan, Ben Butler
The Australian – Page: 17 & 20 : 21-Sep-18

The financial services royal commission has been told that Suncorp-owned insurer AAMI faced potential fines of up to $7.2m for misleading advertising in November 2017, but it was fined just $43,800 by the Australian Securities & Investments Commission. The radio ads promoted AAMI’s commitment to completely replace a policyholder’s home if it was destroyed, but failed to disclose that this was subject to a cost limit. AAMI’s in-force premium revenue from these policies was $426m for the year, providing a strong incentive to continue the ad campaign.

CORPORATES
SUNCORP GROUP LIMITED – ASX SUN, AUSTRALIAN ASSOCIATED MOTOR INSURERS LIMITED, AUSTRALIA. ROYAL COMMISSION INTO MISCONDUCT IN THE BANKING, SUPERANNUATION AND FINANCIAL SERVICES INDUSTRY, AUSTRALIAN SECURITIES AND INVESTMENTS COMMISSION, FINANCIAL OMBUDSMAN SERVICE LIMITED, AAI LIMITED

ACCC: Click misled consumers

roymorgansocial Leave a comment

Original article by Max Mason
The Australian Financial Review – Page: 14 : 10-Jul-18

Electricity and gas retailer Click Energy will dispute allegations of false and misleading conduct. The Australian Competition & Consumer Commission will allege in court that Click Energy’s offer of a 7-29 per cent discount for paying electricity bills on time applied only to its market offer rates, rather than its standard offer rates. ACCC chairman Rod Sims says the discounts were much lower than advertised when compared with Click Energy’s standing offer rates.

CORPORATES
CLICK ENERGY PTY LTD, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, AMAYSIM AUSTRALIA LIMITED – ASX AYS, FEDERAL COURT OF AUSTRALIA

Fairfax slapped for Domain ad

roymorgansocial Leave a comment

Original article by Darren Davidson
The Australian – Page: 19 : 8-May-18

Fairfax Media has been fined $A15,000 for running an advertisement in February 2016 that made false claims about its Domain real estate listings business. The advertisement was run one day after Fairfax had agreed in court that it would not place adverts that made false claims, following legal action taken by realestate.com.au owner REA Group. Fairfax was found to be in contempt of court.

CORPORATES
FAIRFAX MEDIA LIMITED – ASX FXJ, DOMAIN HOLDINGS AUSTRALIA LIMITED – ASX DHA, REA GROUP LIMITED – ASX REA, REALESTATE.COM.AU, NEWS CORPORATION – ASX NWS, FEDERAL COURT OF AUSTRALIA, HOMETRACK DATA SYSTEMS LIMITED

NBN compo for 60,000 homes

roymorgansocial Leave a comment

Original article by Supratim Adhikari
The Australian – Page: 15 : 21-Dec-17

TPG Telecom has agreed to compensate nearly 8,000 customers whose NBN internet access speeds did not match those advertised by the telco. Australian Competition & Consumer Commission chairman Rod Sims says the limitations of fibre-to-the-node (FTTN) technology means that many customers were unlikely to get the speeds that had been advertised. Telstra and Optus had previously agreed to compensate customers using FTTN, and the ACCC expects that other telcos will do so as well.

CORPORATES
TPG TELECOM LIMITED – ASX TPM, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION, TELSTRA CORPORATION LIMITED – ASX TLS, SINGTEL OPTUS PTY LTD, EXETEL PTY LTD

Great wagyu debate put to the taste test

roymorgansocial Leave a comment

Original article by Sue Neales
The Australian – Page: 5 : 23-Oct-14

The Australian Competition & Consumer Commission (ACCC) will conduct an investigation into whether consumers are potentially being misled by the labelling of beef as coming from wagyu cattle. The main issue is whether only full-blood animals should qualify for this descriptor. The Australian Wagyu Association and breeder David Blackmore welcome the move by the ACCC, which has previously looked into claims about free-range eggs and extra virgin olive oil

CORPORATES
BLACKMORE WAGYU BEEF PTY LTD, BLACKMORE GENETICS PTY LTD, AUSTRALIAN WAGYU ASSOCIATION LIMITED, AUSTRALIAN COMPETITION AND CONSUMER COMMISSION