To deter Google and other big tech companies from misleading users about data collection, the Federal Court should impose heavy fines.
- Professor of Law, The University of Western Australia
The National Consumer Credit Protection Amendment bill goes against two explicit recommendations of the banking royal commission.
It’ll be up to the borrower, not the lender to determine whether what’s offered is suitable under changes to be detailed in the budget.
It’s no wonder corporate wrongdoing occurs when the profits from wrongdoing outweigh the costs of being caught and punished.
Suddenly, ASIC is about to have real power. It’ll be easier to get prosecutions and they will hurt, even if the law remains less than completely clear.
Complaints that Hayne didn’t recommend big changes miss the point.
Getting better behaved banks isn’t difficult. Here are three places to start.
If ASIC succeeds in its action against two subsidiaries of the National Australia Bank, the rest of the industry will be put on notice.
Even when ASIC has been sufficiently resourced to pursue litigation, the Australian courts have contributed to an environment where contravening behaviour is a rewarding option.
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