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Commerce Commission - Latest News [Page 52]

Commission concerned Fonterra's risk estimate is too low

Thursday, 14 June 2018, 9:05 am | Commerce Commission

The Commerce Commission has released an emerging view that Fonterra’s estimate of risk in calculating the cost of financing milk processing operations is too low. The impact of this is that Fonterra calculates a higher milk price than would be ... More >>

Christchurch vehicle financier warned

Monday, 11 June 2018, 12:21 pm | Commerce Commission

The Commission has issued a warning to Dealer Finance Limited (DFL), a Christchurch-based motor vehicle finance lender, after an investigation into its compliance with obligations under the lender responsibility principles under the Credit Contracts and Consumer ... More >>

Commission alleges irresponsible lending by payday lender

Friday, 1 June 2018, 3:01 pm | Commerce Commission

The Commerce Commission has commenced High Court proceedings against payday lender Ferratum New Zealand Limited (Ferratum) under the Credit Contracts and Consumer Finance Act 2003 (CCCFA) over alleged breaches of the lender responsibility principles. More >>

MYOB formally withdraws merger application for Reckon

Thursday, 31 May 2018, 3:55 pm | Commerce Commission

MYOB Group Limited has today formally withdrawn its application to acquire the Accountants Group business of Reckon Limited (Reckon). More >>

Lender website review highlights issues consumers face

Thursday, 31 May 2018, 1:05 pm | Commerce Commission

The Commerce Commission has today released the findings of its review of 215 selected lenders’ websites for compliance with disclosure rules. More >>

Budget Loans fined $720K for “cynical” repossession tactics

Wednesday, 30 May 2018, 4:25 pm | Commerce Commission

Finance companies Budget Loans Limited and Evolution Finance Limited (together Budget Loans) have been fined $720,000 in the Auckland District Court, on 125 charges under the Fair Trading Act. More >>

Wanted: 3,000 volunteers to improve broadband information

Wednesday, 30 May 2018, 12:12 pm | Commerce Commission

The Commerce Commission is seeking 3,000 households to be part of a nationwide programme to monitor and improve New Zealand’s broadband performance. More >>

Apple warned for misleading consumers about their rights

Wednesday, 30 May 2018, 10:32 am | Commerce Commission

The Commission has warned Apple Sales New Zealand (Apple) after it likely misled consumers about their Consumer Guarantees Act (CGA) rights and about its replacement products being new. More >>

NZSALE pleads guilty over children’s nightwear labelling

Monday, 28 May 2018, 12:30 pm | Commerce Commission

Online retailer NZ Sale Limited has pleaded guilty to four charges laid by the Commerce Commission for failing to comply with the product safety standard for children’s nightwear. More >>

Authorisation application from Infant Nutrition Council

Friday, 25 May 2018, 9:03 am | Commerce Commission

The Commerce Commission has received an application from the Infant Nutrition Council Limited (INC) seeking authorisation for an arrangement allowing the INC to restrict its members from marketing formula products for children aged up to 12 months. More >>

$52,500 fine for selling non-protective safety jacket

Tuesday, 15 May 2018, 10:24 am | Commerce Commission

A protective clothing company has been fined $52,500 for selling a safety jacket that did not have the claimed protection against electrical burns. More >>

Reminder to businesses about ‘Made in New Zealand’ claims

Monday, 14 May 2018, 10:56 am | Commerce Commission

The Commerce Commission is reminding all businesses that any ‘Made in New Zealand’ claims they make about their products must be accurate, able to be substantiated and must not mislead consumers about the country of origin. More >>

Additional scrutiny of Transpower's price-quality path

Friday, 11 May 2018, 11:33 am | Commerce Commission

An independent verifier has been appointed to scrutinise key components of Transpower’s proposal for its price-quality path for the 5 years from 2020 ahead of it being submitted to the Commerce Commission for approval. More >>

Guides to help businesses avoid unfair contract terms

Wednesday, 9 May 2018, 11:37 am | Commerce Commission

The Commerce Commission has launched a new series of videos and quick guides targeted at businesses to help them avoid unfair contract terms in their standard form consumer contracts. More >>

ComCom on emerging technology in lines companies

Wednesday, 9 May 2018, 9:08 am | Commerce Commission

The Commerce Commission has written an open letter outlining its intention to gather information from regulated electricity distributors to better understand how they are planning, investing and accounting for emerging technologies. More >>

Biggest truck shop fine so far

Monday, 30 April 2018, 10:30 am | Commerce Commission

In the biggest fine so far handed down against a mobile trader, Mobile Shop Limited (Mobile Shop) has been fined $330,000 for breaches of consumer laws. The sentence brings the total fines handed down in 13 Commerce Commission prosecutions of mobile ... More >>