It is understandable that a company headhunting prospective employees may be inclined to make statements that suggest working for their organisation will be lucrative. However, a company should exercise caution when making statements about its financial position and conveying forecasts about its future profitability and job security. This is especially important when recruiting high-level employees whose remuneration is not fixed and depends on the profitability of the company.
If you operate in the automotive, franchise, food and grocery, government procurement, agriculture, health and medical fields, are a small business (or contract with a small business), provide products subject to consumer guarantees under the Australian Consumer Law (ACL), or have to undertake a product recall, you could be in the sights of the Australian Competition and Consumer Commission (ACCC) in 2016.
ACE Insurance is a clear case of how poor culture and conflicts of interest in remuneration have led to poor conduct, resulting in a financial cost to both consumers and the organisation alike. ASIC’s priority in this significant investigation was the affected consumers, and we have pursued the best result possible for those consumers.
“Businesses are expected to take appropriate and effective steps to ensure that their staff understand the rights of consumers and the obligations of businesses under the consumer guarantees provided by the Australian Consumer Law,” Dr Schaper said.
The Court was considered that Alameddine’s mother at the time of paying there was no clear warning prior of the dangers, a reasonable person in the position would not have been aware of the risks of quad biking going by their website advertising.
“In ordinary circumstances, a person who sells his home, whether by private treaty or by auction and whether he conducts the negotiations personally or through a real estate agent, would not be said to be undertaking those activities in the course of a trade or business or in a business context.”