May 2013
Shill bidding costs car company more than $165,000
23 May 2013
An Auckland-based car company has been sentenced today in the Auckland District Court on 13 charges under the Fair Trading Act. The Auto Co (Millenium) Ltd has been fined $42,000 plus court costs of $1727.57 after pleading guilty to misleading consumers about the price of vehicles auctioned on Trade Me. The fine is on top of over $122,000 already paid in compensation to affected consumers and related costs.
Relates to: Fair Trading
April 2013
Commission urges caution for users of multi-purpose ladders
16 April 2013
The Commerce Commission has urged consumers and tradespeople to exercise caution when using two models of ‘Transforma’ multi-purpose ladder, sold nationwide by Brand Developers Limited between 2007 and March 2013.
Relates to: Fair Trading
Penalties for souvenir companies that misled tourists with untrue claims
2 April 2013
Two companies and two individuals have been convicted and fined a total of $259,000 in the Auckland District Court for manufacturing and selling to visiting Asian tourists a range of high-priced souvenir items that were not what they claimed to be.
Relates to: Fair Trading
March 2013
Businesses urged to take care with Holidays Act surcharges over Easter
27 March 2013
Businesses that open for trading over Easter, such as cafes and bars, must not mislead their customers about their reason for a surcharge.
Relates to: Fair Trading
Commerce Commission seeks more information on interest rate swaps
27 March 2013
The Commerce Commission is seeking more information from farmers and others who entered into a financial derivative product known as interest rate swaps.
Relates to: Fair Trading
Great news in the post for investors in failed investment product Credit SaILs
19 March 2013
Thousands of investors who lost millions of dollars when the financial product Credit SaILS failed in the global financial crisis will receive some welcome news in the post around Easter.
Relates to: Fair Trading
Lessons for finance sector from Commerce Commission investigation into Credit SaILS
7 March 2013
The Commerce Commission is advising the finance sector to take note of the lessons to be learned from its investigation into the marketing and sale of the failed investment product Credit SaILS.
Relates to: Fair Trading
February 2013
Commission updates Primary Production select committee on interest rate swaps investigation
28 February 2013
Commerce Commission Chairman Dr Mark Berry has today provided an update to the Primary Production select committee on the Commission’s progress in its interest rate swaps investigation.
Relates to: Fair Trading
