ASIC watchdog infiltrates Pump and Dump Organization

The Australian Securities and Investments Commission (ASIC) has taken the fight against market manipulation to the front lines by infiltrating an unlawful pump and dump investing group. In the age of millennial investing, many individuals have banded together to create secret groups to artificially inflate the prices of different stocks and cryptocurrencies. This has made …

Last modified on December 8th, 2021 at 2:40 pm

7-Eleven found to have breached Australian privacy laws

International convenience store chain, 7-Eleven, has come under fire from the Privacy Commissioner for unlawfully collecting biometric data from Australian patrons. Much like most businesses that operate these days, 7-Eleven utilises CCTV security to monitor its 700 locations in Australia, however, in June last year the company also introduced survey tablets. These tablets came with …

Last modified on December 7th, 2021 at 1:04 am

ACSC CONFIRMS CYBERTHREATS ON THE RISE

The Australian Cyber Security Centre (ACSC) has released its Annual Cyber Threat Report 2020-21. This report details the key cyber threats affecting Australian systems and provides recommendations, based on data and trend analysis, on how to protect Australian individuals and organisations from cyberattacks. Due to the COVID pandemic, many employees and businesses began to heavily …

Last modified on December 7th, 2021 at 1:03 am

ACCC RELEASES FINAL REPORT ON AD TECH SUPPLY CHAINS

The Australian Competition and Consumer Commission (ACCC) recently published its final report on the supply of ad tech services and ad agency services. In short, the ACCC identified that the current Australian competition law regime is not well equipped to appropriately manage the supply of ad tech services. Amongst its findings, the ACCC focused on …

Last modified on December 7th, 2021 at 1:02 am

HIGH COURT HOLDS AUSTRALIAN NEWS MEDIA COMPANIES LIABLE FOR COMMENTS ON FACEBOOK POSTS

In a landmark ruling, the High Court of Australia has held by majority that news media companies may be liable for comments left by users on their social media posts. This case began due to defamatory comments left by users on Facebook posts created by Fairfax Media and News Corp. Both Fairfax Media and News …

Last modified on December 7th, 2021 at 1:02 am

US FEDERAL COURT ISSUES UNEXPECTED INJUNCTION AGAINST APPLE IN EPIC GAMES CASE

After a long legal battle across various jurisdictions, Justice Yvonne Gonzalez Rogers of the District Court of California handed down an unexpected decision against Apple. In her judgment, Justice Rogers issued an injunction against Apple to prevent the company from forcing users to use Apple in-app purchasing. The Apple and Epic Games proceedings arose out …

Last modified on December 7th, 2021 at 1:00 am

US FEDERAL TRADE COMMISSION ACCUSES FACEBOOK OF A BUY-OR-BURY SCHEME TO MAINTAIN MARKET DOMINANCE

The United States Federal Trade Commission (FTC) has challenged Facebook’s monopolistic practices by accusing the company of engaging in an illegal buy-or-bury scheme.  For more than a decade, Facebook has dominated the social media and digital platform landscape. Throughout its history, Facebook has acquired over 91 different companies, dipping its fingers into fields such as …

Last modified on December 7th, 2021 at 1:00 am

PRODUCTIVITY COMMISSION CALLS FOR LOWER BARRIERS TO ENFORCE CONSUMERS’ RIGHT TO REPAIR

The Productivity Commission has found that it has become increasingly difficult for Australian consumers to access their right to repair. The right to repair refers to a person’s “ability to repair faulty goods and to access repair services at a competitive price”. This means that consumers should have the ability to have, for example, their …

Last modified on December 7th, 2021 at 12:59 am

AUSTRALIAN FEDERAL POLICE GRANTED NEW SURVEILLANCE POWERS TO COMBAT CYBERCRIME

The newly passed Surveillance Legislation Amendment (Identity and Disrupt) Bill 2020 (Cth) has provided the Australian Federal Police (AFP) with new powers to infiltrate and disrupt online crime.  The Bill establishes three principal powers that will “bolster authorities’ ability to keep up with evolving technologies to protect Australians.” These three powers are categorised as warrants …

Last modified on December 7th, 2021 at 12:59 am

RECENT CHANGES TO ELECTRONIC AND SPLIT EXECUTION OF DOCUMENTS UNDER S.127 OF CORPORATIONS ACT.

With the passing of the Treasury Laws Amendment (2021 Measures No.1) Act 2021 (Amending Act) on 10 August 2021, electronic execution and/or utilising split execution (in which the two officers sign different copies of the same document) documents by Australian companies under section 127 of the Corporations Act 2001 (Cth) are once again expressly permitted. …