Pyramid scheme promoter ordered to pay $5.9m in record Fair Trading Act case
Shelly Cullen has been ordered by the Auckland District Court to pay $5.9m for her promotion of the pyramid scheme ‘Lion’s Share.’ This is a combination of a $600,000 fine - the largest ever criminal fine issued to an individual under the Fair Trading Act - and an order to pay over $5.3m to reflect the value of the commercial gain she made through the scheme.
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ComCom clocks 5G wireless speeds for the first time
The Commerce Commission has released its latest broadband monitoring report which shows, for the first time, performance results for Spark’s 5G wireless broadband service.
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Commission to issue Statement of Unresolved Issues on proposed Foodstuffs merger
The Commerce Commission has decided to issue a Statement of Unresolved Issues for the application from Foodstuffs North Island Limited and Foodstuffs South Island Limited seeking clearance to merge.
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ComCom files proceedings against Foodstuffs North Island for blocking rivals
The Commerce Commission has filed proceedings in the Wellington High Court against Foodstuffs North Island, alleging that anti-competitive land covenants were lodged by the supermarket operator with the purpose of blocking competitors from opening rival supermarkets at particular sites and developing existing ones at several locations across the lower North Island.
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Kiwibank faces criminal charges following issues that caused over $7m in overcharges
The Commerce Commission has filed criminal charges against Kiwibank Limited (Kiwibank), alleging systemic breaches of the Fair Trading Act. The breaches relate to issues that resulted in more than $7 million being incorrectly charged to over 36,000 customers for fees and interest rates in relation to home loans, credit cards and overdrafts, over a period of several years.
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Delay in dropping petrol prices costing Kiwi motorists $15m a year at the pump
The Commerce Commission’s latest analysis of fuel monitoring data shows retailers are quick to put fuel prices up in response to increased costs, but slower to bring prices down when global oil prices fall or exchange rate changes reduce costs.
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Commission balances necessary investment in electricity networks against rising consumer prices
The Commerce Commission has today announced draft decisions to allow increased revenue limits for national grid owner Transpower and local lines companies to help pay for necessary investment in the country’s electricity network.
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Statement of Unresolved Issues released for AlphaTheta’s proposed acquisition of Serato
The Commerce Commission has published a Statement of Unresolved Issues on AlphaTheta’s application for clearance to acquire Serato.
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ComCom warns Bluebridge over ferry cancellation and delay representations
After receiving customer complaints, the Commerce Commission has issued a warning to Cook Straight ferry provider StraitNZ Bluebridge Limited, for potentially misrepresenting consumers rights to compensation when sailings were delayed or cancelled during 2023.
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Crackerjack sentencing a red flag for parents as winter sets in
The Commerce Commission says the sentencing of a New Zealand retailer for breaching fire hazard labelling requirements should be a red flag for parents buying children’s nightwear this winter.
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