Financial Compliance

ACCC to Scrutinise Fuel Pricing Amid Middle East Crisis

The Australian Competition and Consumer Commission (ACCC) will increase scrutiny of fuel pricing and distribution amid the Middle East crisis. The ACCC will hold urgent meetings with fuel market participants and commence weekly market updates to enhance transparency and address consumer concerns about price spikes and regional supply issues.

ACCC Monitors Petrol Prices Amid Middle East Conflict

The Australian Competition and Consumer Commission (ACCC) is monitoring petrol prices in response to the Middle East conflict and its impact on international crude oil costs. The ACCC has reminded fuel companies of their obligations under the Australian Consumer Law regarding price increase representations and stated it will take action against anti-competitive behaviour.

Australian Airports Increase Infrastructure Investment, Potential Airfare Hikes

Australia's four major airports increased infrastructure investment by 43.6% in 2024-25, investing $1.5 billion. However, the ACCC warns that higher airport charges to airlines may lead to increased airfares for passengers.

ASIC Disqualifies Director for Five Years Over 20 Company Failures

The Australian Securities and Investments Commission (ASIC) has disqualified Vincenzo Frank Tesoriero from managing corporations for five years due to his involvement in the failure of 20 companies. The disqualification stems from findings of improper conduct, including facilitating fraudulent transactions and mismanaging company funds.

ASIC Disqualifies Simon Raftery from Managing Corporations

The Australian Securities and Investments Commission (ASIC) has disqualified Simon Raftery from managing corporations for two and a half years due to his involvement in five failed companies. These companies owed approximately $43 million to creditors.

Capital Mining Limited Directors' Charges Discontinued

The Office of the Director of Public Prosecutions (Cth) has discontinued charges against former Capital Mining Limited directors Peter Dykes, Anthony Dunlop, and Peter Torney. ASIC considers the matter finalised following this decision.

Remedy Housing Officers Sentenced for Dishonesty Offences

Three former Remedy Housing officials, Brent Smith, Mahmoud Khodr, and Fue Mano, have been sentenced for dishonesty offences related to promoting interest-free mortgages. The company received $1.83 million in deposits from 107 customers, with significant misappropriation of funds by the officials.

ASIC bans financial adviser Raluca Terheci for six years

The Australian Securities and Investments Commission (ASIC) has banned financial adviser Raluca Terheci from providing financial services for six years. ASIC found she provided inappropriate advice and made false and misleading statements to clients regarding high-risk investments.

ECB Speech on Nature-Related Risks and International Cooperation

ECB Executive Board Member Frank Elderson delivered a speech highlighting the significant economic and financial risks posed by nature degradation. He emphasized the critical need for international cooperation among central banks and supervisors to manage these risks effectively.

ECB Blog: Banks as Enablers of Market Integration and Investment Innovation

The ECB's Supervisory Blog discusses how banks can act as strategic enablers for market integration and investment innovation within the EU's Savings and Investments Union (SIU) initiative. The blog highlights the SIU's role in channeling savings into productive investment and enhancing Europe's competitiveness.