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Regulation

Regulation
Trump finds few fans for corporate reporting change
It has been labelled “useless or misleading information”, which encourages short-term decision-making. Although part of the corporate furniture in the United States since 1970, quarterly reporting stirs up mixed emotions but it has been pulled back into the spotlight by United States President Donald Trump calling for its demise. “Subject to SEC Approval, Companies and Corporations should no longer be forced to ‘Report’ on a quarterly basis (Quarterly Reporting!), but rather to Report on a ‘Six (6) Month Basis,” Trump wrote on his Truth Social platform in September. “This will save money, and allow managers to focus on properly running their companies.” Trump was highlighting an issue he first raised in 2018 when he tasked the United States Securities and Exchange Commission (SEC) with considering changing the requirement for firms to report every three months. "In speaking with some of the world's top business leaders I asked what it is that would make business (jobs) even better in the US. 'Stop quarterly reporting & go to a six month system,' said one", he wrote in a post on Twitter. Trump said he asked for the change to be considered by the SEC, which, in response, called in a press release for comments on th
Regulation
FAA loosens its grip on Boeing production
Boeing has reportedly been cleared to increase production of its 737 MAX jets less than a year after a frightening safety incident during a flight. The United States Federal Aviation Administration (FAA) granted Boeing approval to raise monthly production of the jets from 38 to 42, according to media reports. News organisations cited a statement in which the FAA, the U.S. national aviation agency, said its safety inspectors had conducted extensive reviews of Boeing’s production lines to ensure output could be lifted safely. “Our team has followed a disciplined rate readiness process guided by our safety management system and tracked by key performance indicators that were agreed upon with the FAA,” Boeing said in a statement. “We remain committed to implementing our Safety & quality Plan and working with our suppliers to increase production in a disciplined manner.” FAA Administrator Bryan Bedford informed Boeing CEO Kelly Ortberg of the decision on Friday. The FAA imposed a production cap shortly after a mid-air emergency in 2024 when a large hole opened in the fuselage of a new Alaska Airlines aircraft because a door plug was missing four key bolts. The agency said it would continue to closely monitor the ma
Regulation
ACCC switches tactics to shock solar, battery sellers
Australia's electricity watchdog is flexing its muscle as federal battery subsidies trigger unprecedented demand, warning installers and retailers that dodgy sales tactics won't fly in the nation's fastest-growing energy market. The Australian Competition and Consumer Commission (ACCC) fired a shot across the bow of battery and solar suppliers Tuesday, declaring it would closely monitor sales practices as government subsidies drive household battery installations to record levels. ACCC Commissioner Anna Brakey's warning comes as the federal government's $2.3 billion Cheaper Home Batteries Program slashes 30% off battery costs, creating what industry analysts describe as a once-in-a-decade opportunity for market share grabs. Australia recorded 72,500 residential battery installations in 2024 - a whopping 27% jump from the previous year - with 2025 projected to smash records again as the subsidies take full effect.Bill savings drive the stampedeACCC data reveals homes with solar and batteries pay $936 annually for electricity, compared to $1,565 for grid-only customers - a 40% saving. But the real standout performers are virtual power plant customers, who slash their bills to just $580 per year, banking nearly $1,000 in
Regulation
Alleged power market rigging sparks legal action
The Australian Securities and Investments Commission (ASIC) is suing the operator of a power station for allegedly manipulating the market for electricity futures contracts. ASIC is taking action in the Federal Court of Australia against Delta Power & Energy (Vales Point) Pty Ltd, formerly named Sunset Power International Pty Ltd, which is owned by Czech-based energy group Sev.en Global Investments. The market regulator has alleged that on 30 occasions between 8 September and 6 October 2022 Delta placed orders for New South Wales Peak Load Electricity Futures Contracts shortly before the close of the Australian Securities Exchange’s ASX 24 derivatives market for the improper purpose of affecting the daily settlement price. ASIC alleges this:created a false or misleading appearance that Delta’s purpose was to purchase the quarterly futures contracts at the lowest realisable pricecreated a false or misleading appearance that the daily settlement price for the contracts (and the daily settlement price for the corresponding calendar year ‘strip’ products) reflect the forces of genuine supply and demand in an open, informed and efficient market, andinfluenced the level at which the daily settlement price of the contracts was
Regulation
Optus agrees to $100m fine for unacceptable behaviour
Australia’s second largest telecommunications provider Optus has agreed to pay a $100 million (US$64.9 million) fine after selling phones and contracts to vulnerable and disadvantaged people including indigenous Australians. The Australian Competition and Consumer Commission (ACCC) said the Singapore Telecommunications subsidiary had admitted to engaging in unconscionable conduct with more than 400 consumers at 16 stores between August 2019 and July 2023. The ACCC said in many instances the consumers did not want or need, could not use or could not afford what they were sold, and in some cases they were pursued for debts. Many were vulnerable or disadvantaged, living with a mental disability, diminished cognitive capacity or learning difficulties, financially dependent or unemployed, had limited financial literacy or poor English, or were First Nations people from regional and remote areas. “The conduct, which included selling inappropriate, unwanted or unaffordable mobiles and phone plans to people who are vulnerable or experiencing disadvantage is simply unacceptable,” ACCC Deputy Chair Catriona Lowe said in a media release. The competition took the legal action against Optus Mobile Pty Ltd (Optus) in the Federal

Regulation
TAB slapped with $4m fine over VIP marketing messages
Tabcorp Holdings Limited (TAB: ASX) has been slapped with a fine of more than $4 million for a breach of spam laws in its VIP marketing messages. The fine comes after an investigation from the Australian Communications and Media Authority (ACMA), which found more than 5,700 marketing messages to VIP program customers weren't compliant with Australian spam laws. The texts and WhatsApp messages were sent between February and May of last year and did not provide an unsubscribe option or “adequate sender information”. Businesses must have consent before sending marketing messages, clear information about the sender and with a working unsubscribe option, under the the Spam Act 2003. “The gambling industry needs to understand that spam laws apply to all direct marketing — whether it’s generic campaigns or personalised messages,” said ACMA Member Samantha Yorke. She also confirmed ACMA would be “watching closely" to ensure TAB is compliant in the future.
Regulation
Stop the steal: National Anti-Scam Centre calls for help
The ACCC's National Anti-Scam Centre is urging businesses to get more involved in helping stop scams, as losses increase for Australians. The statistics, reported by Scamwatch, show that while overall scam reports have fallen 24%, losses have increased by 28% or $118,993,148 compared to the same time last year. The biggest increase in reported losses for this year came from phishing scams, in which scammers impersonate government agencies or financial institutions. These have accounted for $13.7 million in financial losses so far this year, compared to $4.6 million in early 2024. Scams through social media have also seen a spike in popularity, with a 50 per cent increase in people reporting financial loss through social media. Phone scams saw an 11% decrease compared to the same time last year but still accounted for the highest overall financial losses of any contact method. In the first four months of this year that total was already $25.8 million lost. Broken down by age group, Australians aged 65 and over reported the highest total losses of any age group but those aged 25 to 34 were the most likely to report having lost money. “Scams are affecting Australians of all ages, often beginning with an unpro
Regulation
Schemes arrange to take over corporate Australia
What price corporate romance? If the Chemist Warehouse backdoor listing on the Australian Securities Exchange (ASX) is any indication, the answer is A$40 million (US$25.6 million). That was the cost of the scheme of arrangement used to merge Australia’s largest pharmacy chain with the already-listed Sigma Healthcare (ASX: SIG) in a A$28 billion deal (US$17.9 billion) completed in February 2025. The romance analogy was used by an academic to describe the process for acquiring companies which has become increasingly popular in Australia over the last decade, if not longer. “To me it’s like a forced marriage,” Royal Melbourne Institute of Technology Professor of Finance Angel Zhong told Azzet. Schemes of arrangement are binding, court-approved processes that allow the reorganisation of company members and creditors' rights and liabilities, according to the Australian Securities and Investments Commission’s Regulatory Guide 60.Source: ASICIn practice in Australia they are the alternatives to traditional takeover bids and allow companies to be acquired, usually by mutual agreement. To be implemented schemes require court approval, 75% of shares and 50% of shareholders voting, and an explanatory statement and independe
Regulation
ACCC raises concerns about the Elders-Delta merger
The Australian Competition and Consumer Commission (ACCC) has raised concerns about Elders' proposed acquisition of Delta Agribusiness. ACCC deputy chair, Mick Keogh said there are concerns about whether the acquisition would create a monopoly in the agricultural industry. This is because both companies supply rural merchandise, including agricultural chemicals, seeds, fertilisers, animal health products, and related services, such as agronomy services, to consumers in WA. “Competition in the supply of rural merchandise is critical to Australian farmers and our global competitiveness in agricultural products,” ACCC Deputy Chair Mick Keogh said. “We have preliminary concerns that the proposed acquisition may lead to higher prices or reduced quality in the supply of rural merchandise without an independent Delta competing with Elders following this proposed acquisition.” Elders announced the A$475 million acquisition in November 2024. Key areas where the ACCC are concerned the merger could reduce competition are local markets in the North-West Victoria, Northern Wheatbelt (WA), Central Wheatbelt (WA), Great Southern (WA) and Murray-Mallee (SA) regions. The ACC are still investigating the impact on a broader geographic