Jewellery retailer Michael Hill has been fined $169,000 after a Commerce Commission investigation into its extended warranty product. The Commerce Commission said consumers must be able to make an informed decision about whether to buy an extended warranty.
Retailer Michael Hill New Zealand has been fined $169,000 in the Wellington District Court today following a Commerce Commission investigation. The investigation was centred around the jeweller failing to comply with the extended warranty disclosure requirements of the Fair Trading Act.
The Michael Hill company has been fined for breaches of the Fair Trading Act. (File photo) A Whangarei couple who bought a bracelet from jewellery firm Michael Hill found they had also bought a $149 extended warranty without knowing it. Now the company has been fined $169,000 for breaching the Fair Trading Act and misleading the buyers about the price.
The Commerce Commission has issued formal warnings to electricity lines company Scanpower and gas distributor GasNet for failing to publish full asset management plans by their regulatory deadlines. Scanpower and GasNet are both subject to information disclosure regulation under the Commerce Act, which requires electricity and gas network operators to provide the Commission and the public with information related to the performance and management of their networks.
Complaints to the Commerce Commission alleging breaches of consumer law rose to 7452 this year, up from 7270 in 2017. Telcos again topped the list of the most complained about traders, followed by motor vehicle dealers and domestic appliance retailers.
Business The Commerce Commission is taking a look at the nation's ports after receiving complaints that some of the maritime hubs are taking advantage of their market power. The regulator received seven complaints about anti-competitive conduct by New Zealand ports in the June 2018 year, its Consumer Issues report shows.
Credit: Dreamstime Retail telcos generated 584 complaints to the Commerce Commission in 2018, slightly lower than the 603 received in the year ended 30 June 2017. The industry accounted for nine per cent of all Fair Trading Act complaints during the year, the same as in 2017, commission analysis released today said.
Phone companies are again in the doghouse. The Commerce Commission's annual Consumer Issues report rates the most complained-about industries, and "telecommunications retail service providers" are again at the top of the heap - or should that be bottom.
It has served us for so long and (mostly) so well, but the days of the copper network are numbered. Overtaken by the faster fibre network being rolled out around the country, which was branded so successfully as Ultra Fast Broadband by the previous National Government.
The Commerce Commission has started consulting on consumer safeguards that will apply from January 1, 2020 - when new telco law will kick in that allows Chorus to stop offering voice and broadband services over copper lines in areas with UFB fibre. In other words, for most households, it will be a choice of fibre or nothing.