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Business and Industry Regulation

Doctors warn of significant increase in people hospitalised with psychosis after being prescribed medicinal cannabis

Experts are worried about a proliferation of "single-issue" cannabis clinics opening in Australia, some of them willing to prescribe via telehealth consultations with few checks.
A medicine bottle with a tag warning the medicine may cause drowsiness

analysis:How the ATO went from good cop to bad cop to claw back more than $50 billion in debt

The message is clear: the honeymoon period is now over for businesses that were extended during the COVID-19 pandemic, as the ATO works to recoup more than $50 billion in debt.
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ATO Melbourne office, logo on the wall.

'Every minute for me is suffering': Scammers target Australian property sales

Lily and her real estate agent are among a growing number of Australians who have been targeted by cyber criminals.
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An elderly Asian woman standing next to a larger, middle-aged Caucasian male.

The ATO is cracking down on former company directors in a blitz some say will send them bankrupt

The ATO has issued tens of thousands of director penalty notices that make people personally liable for debts, and is also more commonly using garnishee notices, which allow it to take money directly from a person's bank account or employer. That's sending more businesses under.
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Andrew Christodoulou  pic 2 by craig andrews

Big banks found to be ripping off low-income customers

Almost two weeks after it was labelled a 'toothless tiger' and unfit for purpose, Australia's corporate regulator ASIC has blasted some of the nation's big banks for ripping off low-income customers by placing the mostly low-income First Nations customers on high-fee accounts.  ASIC Commissioner Alan Kirkland wouldn't be drawn on questions about the timing of the release of ASIC's investigation into Australia's big banks, but he says more than 200,000 customers have been helped since the regulator started its investigation.
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ABC News Current
Duration: 3 minutes 38 seconds

ACTU secretary lashes out at alleged criminal activity in Victorian union

Sally McManus says there is 'no place' for illegal acts in Australian union operations.
A woman with grey mullet-style hair cut speaking at a media conference.
Duration: 1 minute 39 seconds

'Just not acceptable': Perth builder has 236 unfinished homes as dozens complain to building commissioner

Hundreds of Nicheliving customers, who have been waiting more than two years past their scheduled completion dates, have been pleading with regulators to intervene.
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An unfinished home building site.

analysis:Bernie Madoff's big mistake? Not setting up his Ponzi scheme in a country where the corporate regulator is asleep at the wheel

Australia's corporate regulator has long been widely seen as weak and ineffectual. Will this week's Senate report spur a break with its chequered past?
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A man in a suit walks in front of another man in a suit

Damning inquiry finds ASIC failed to stop financial crime

A Senate inquiry has delivered a scathing report on Australia's corporate regulator, ASIC, and recommends it should be broken up into two separate entities.
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ABC News Current
Duration: 5 minutes 3 seconds

Senate committee recommends major overhaul for corporate watchdog, splitting ASIC into two new regulators

Australia's corporate watchdog, ASIC, isn't prosecuting enough white-collar crime and can't perform its full range of duties, so a Senate committee has recommended it split into two new, more streamlined regulators.
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ASIC sign

analysis:Insiders have been alarmed by ASIC's culture for years. Now a parliamentary inquiry will lay bare its flaws

The Australian Securities and Investments Commission is timid and slow and was once described as "a haven for white-collar crime". A parliamentary inquiry due this week is expected to be brutal in its assessment of the regulator. Will its recommendations chart a path forward?
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A logo says 'ASIC'.

analysis:Will the cost of living ever go down? Food prices are on the rise despite multiple supermarket inquiries

Food, mortgages and power bills — with the cost of living dominating, will this week’s supermarket inquiry make a difference?
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A composite image of a bright red and white sign that says 'coles' and a white sign that says 'woolworths' with a green icon.

Concerns over 'shocking projects' sees NSW construction watchdog expand beyond Sydney

With more than 4,000 active construction sites, the Illawarra will become home of the NSW Construction Authority's newest compliance team.
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Six people standing in highvos outside a building site.

Supermarkets to face mandatory code of conduct when dealing with suppliers

Farmers have long complained about feeling powerless when negotiating with the major supermarkets. Now, the balance of power could be shifting back to suppliers.
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ABC News Current
Duration: 6 minutes 15 seconds

As evidence builds of strata managers exploiting apartment owners, NSW promises tougher penalties for 'bad behaviour'

The NSW government pledges to "stamp out bad behaviour" and strengthen oversight of the state's strata management industry in the wake of an ongoing ABC investigation that has revealed the systemic exploitation of unit owners and a widespread culture of kickbacks and secret commissions.
the exterior of a white apartment building

The grocery code of conduct overhaul could mean good things for suppliers. What about Aussies at the check-out?

Consumers might not feel the effects of a mandatory grocery conduct overhaul, a peak consumer policy body says. 
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Close up of shopping trolley in supermarket aisle

Major supermarkets could face fines of up to $10m for mistreating suppliers

The federal government is proposing a new mandatory code to regulate the major supermarkets' relationships with their suppliers
Supermarket Law Reforms, Potential Fines: A composite image of a Coles and a Woolworths shopfront.
Duration: 4 minutes 47 seconds

After months of reviews, the government has made its first move on the big supermarkets

The federal government confirms it will impose new obligations on large supermarket chains to treat their suppliers fairly, enforced by hefty fines.
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Illuminated logos of Coles and Woolworths outside of each supermarket in a shopping centre.

analysis:Why pharmacies could be teetering on an 'Uber' moment

The ACCC is wary about the proposed merger of Chemist Warehouse and Sigma Healthcare. But other decisions will matter more for service and prices. They concern pharmacy discounting and location rules, and they'll involve taking on existing owners.  
Signage on a shop front with a red house silhouette that reads Chemist Warehouse.

Queensland has Australia's most hotel pool drownings. Hoteliers call lifesaving devices impractical

More than half of Australia's hotel pool drownings in the past decade happened in the Sunshine State where life rings, rescue tubes and defibrillators are not mandatory.
Life rings and water safety signs alongside a hotel pool.

analysis:A rude bill shock was the first most households heard about a monumental shift in Australia's energy system

Across Australia, a huge, forced migration is underway as consumers are shunted on to complex power prices. Just don't expect anyone to tell you about it.
a woman is sitting at a table looking at a utility bill.

analysis:Three senators have exposed Canberra's 'vicious' consultant problem. But don't expect change overnight

Senators from across the political spectrum have agreed the public service is over-reliant on consultants, but they are not in perfect agreement on the way forward.
A composite picture of two women and a man, all looking serious.

Australian energy rule maker signals shake-up of electricity charges

The body that sets the rules in Australia's biggest electricity markets acknowledges worries about complex power prices as it launches review.
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Silver energy electricity box

Calls for energy companies to increase transparency for bills

Energy usage has historically been estimated when meters were locked away or inaccessible, but some customers are being overcharged hundreds of dollars.
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Price Shock, Meter Estimation: An analogue electricity meter.
Duration: 1 minute 55 seconds

Meet the six mega-rich families running the food system

The average American farmer doesn't fix fences and drive tractors. Thanks to market concentration, there is now a handful of companies that dominate the US food system, and they are impacting Australia too. 
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A pink pig, backlit, looks straight on at the camera, which is zoomed in on its face.