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Commerce Commission - Latest News [Page 34]
Commission Urges Caution Over Toy And Bike Purchases As Four Companies Warned
Wednesday, 9 December 2020, 9:54 am | Commerce Commission
The Commerce Commission is urging consumers to take a second look at the toys and bikes they purchase this Christmas, as four companies are warned over product safety. “We want consumers to think hard about the toys and bikes they buy this Christmas. ... More >>
Former High-cost Lender Warned Over Failure To Adhere To Responsible Lending Requirements
Thursday, 3 December 2020, 8:56 am | Commerce Commission
The Commerce Commission has issued a warning to Superloans Napier Limited and Superloans Porirua Limited that they are likely to have failed to comply with the lender responsibility principles set out in the Credit Contracts and Consumer Finance Act 2003 (CCCF Act). ... More >>
Final Decision On Allocation Of $10 Million Telecommunications Development Levy
Thursday, 3 December 2020, 8:38 am | Commerce Commission
The Commerce Commission has today released its final determination on the allocation of payments for the Government’s $10 million Telecommunications Development Levy (TDL) for 2019/20. The TDL is paid by providers earning more than $10 million per ... More >>
BNZ Warned Over Responsible Lending And Disclosure Failures
Wednesday, 2 December 2020, 1:14 pm | Commerce Commission
The Bank of New Zealand (BNZ) has been warned by the Commerce Commission over likely responsible lending breaches and failures to provide timely and accurate information to borrowers. In the Commission’s view, BNZ likely breached responsible lending ... More >>
BNZ Warned Over Responsible Lending And Disclosure Failures
Wednesday, 2 December 2020, 9:02 am | Commerce Commission
The Bank of New Zealand (BNZ) has been warned by the Commerce Commission over likely responsible lending breaches and failures to provide timely and accurate information to borrowers. In the Commission’s view, BNZ likely breached responsible lending ... More >>
Statement Of Issues Released For NEP Acquisition Of Sky’s Outside Broadcasting Assets
Monday, 30 November 2020, 8:42 am | Commerce Commission
The Commerce Commission has published a statement of issues relating to an application from NEP Broadcast Services New Zealand Limited seeking clearance to acquire from Sky Network Television Limited the assets of its outside broadcasting business, Outside ... More >>
How Real Is That Bargain?
Thursday, 26 November 2020, 8:55 am | Commerce Commission
The Commerce Commission urges retailers and consumers to think hard about the bargains being offered as ‘Black Friday’ and Christmas draw near. Black Friday has now overtaken Boxing Day in terms of retail spending, according to data from electronic ... More >>
Commerce Commission Finalises Wellington Electricity’s Allowable Revenue From April 2021
Thursday, 26 November 2020, 8:44 am | Commerce Commission
The Commerce Commission has released its final decision on how it will move Wellington Electricity Lines Limited from a customised price-quality path (CPP) to a default price-quality path (DPP) from 1 April 2021 to 31 March 2025, following industry feedback ... More >>
Commission Consults On Approving $36 Million Investment To Maintain Reliable Electricity Supply In South Auckland
Thursday, 26 November 2020, 8:39 am | Commerce Commission
The Commerce Commission has released its draft decision allowing Transpower to invest $36 million to replace ageing infrastructure and cater for increasing electricity demand in South Auckland. Transpower, which owns and operates the national electricity ... More >>
Commission Opens Market Study Into Grocery Sector And Publishes Process Paper
Thursday, 19 November 2020, 8:54 am | Commerce Commission
The Commerce Commission has commenced a market study into factors that may affect competition in the grocery sector following publication of terms of reference for the study by the Minister of Commerce and Consumer Affairs. “The price and quality ... More >>
Commission Finalises Emergency Calling Protections For Consumers In Power Cuts
Tuesday, 17 November 2020, 9:20 am | Commerce Commission
The Commerce Commission has finalised its 111 Contact Code to protect consumers who rely on their home phones to contact 111 emergency services in a power cut. The code supports consumers who can no longer call 111 in a power cut because they have ... More >>
COVID-19 Brings Record Level Of Travel-related Complaints To Commerce Commission
Thursday, 5 November 2020, 9:24 am | Commerce Commission
The impact of COVID-19 has seen a record level of travel-related complaints to the Commerce Commission in the 2019/20 year. The Commission has released its Complaints Snapshot for 2019/20 which shows that total complaints received by the Commission ... More >>
Commission Completes Input Methodologies By Finalising Approach To Valuing Fibre Providers’ Financial Loss
Tuesday, 3 November 2020, 8:28 am | Commerce Commission
The Commerce Commission has released its final decision on its approach to determining the value of the financial loss asset for fibre service providers under the new fibre regulatory regime. The financial loss asset captures the unrecovered returns of Chorus ... More >>
Statement Of Preliminary Issues Released For Aon/Willis Towers Watson
Friday, 30 October 2020, 10:15 am | Commerce Commission
The Commerce Commission has published a statement of preliminary issues relating to an application from Aon plc seeking clearance to acquire Willis Towers Watson Public Limited Company as part of a global transaction. The statement outlines the ... More >>
Commerce Commission Moves To Address Rising Telecommunications Sector Complaints
Thursday, 29 October 2020, 8:28 am | Commerce Commission
The Commerce Commission is asking for views on what telecommunications providers could be doing better to address increasing complaints about the sector. The number of consumer complaints is an indicator of consumer experience and, over the past ... More >>
PAK’nSAVE Mangere Fined $78,000 For Price Discrepancies
Wednesday, 28 October 2020, 9:56 am | Commerce Commission
Kennedy’s Foodcentre (2003) Limited trading as PAK’nSAVE Mangere has been fined $78,000 for discrepancies between the promotional price displayed or advertised and the price charged at the till. It had earlier pleaded guilty to six charges of making ... More >>
Draft Decision On Allocation Of $10 Million Telecommunications Development Levy
Thursday, 22 October 2020, 8:56 am | Commerce Commission
The Commerce Commission has today released its draft determination on the allocation of payments for the Government’s $10 million Telecommunications Development Levy (TDL) for 2019/20. The TDL is paid by providers earning more than $10 million per ... More >>
Wilson Parking Agrees To Divest Car Parks In Settlement Agreement With Commerce Commission
Wednesday, 21 October 2020, 1:53 pm | Commerce Commission
Wilson Parking New Zealand Limited (Wilson Parking) has agreed to divest the leases of three car parking facilities it currently operates in central Wellington, in a settlement agreement with the Commerce Commission. In June 2016, Wilson Parking New ... More >>
Aon Seeks Clearance To Acquire Willis Towers
Friday, 16 October 2020, 3:51 pm | Commerce Commission
The Commerce Commission has received a clearance application from Aon plc to acquire all the shares of Willis Towers Watson Public Limited Company as part of a global transaction. Aon and Willis Towers Watson are both publicly traded, global professional ... More >>
Commission Consults On Draft Report On Fonterra’s 2020/21 Milk Price Manual
Thursday, 15 October 2020, 8:29 am | Commerce Commission
The Commerce Commission today released its draft report on its annual review of Fonterra’s Farmgate Milk Price Manual for the 2020/21 dairy season. This year’s review focused on the changes Fonterra has made to the Manual. These include amending ... More >>
