AUSTRALIA Trends and Developments Contributed by: Amanda Banton, Elliott Smith, Melissa Morgan and Paul Smith, Banton Group
integrity and protect consumers. Notable trends include a focus on the following areas: • financial hardship and consumer protection claims, including ASIC commencing proceed- ings against a major Australian bank for failing to adequately support customers facing financial hardship; • market integrity and corporate governance, including ASIC commencing proceedings against the ASX, alleging misleading state- ments about certain technology upgrades, potentially affecting investor confidence and market transparency; and • environmental, social, and governance (ESG) compliance, which included greenwashing enforcement action against Vanguard Invest- ments Australia for making misleading claims about ESG exclusionary screens, resulting in a record AUD12.9 million penalty. The ACCC also intensified its enforcement activ- ities, focusing on several key areas to promote competition, protect consumers, and address emerging market challenges. Notable trends include a focus on the following areas: • consumer protection and misleading con- duct, including ACCC action against major supermarket chains, such as Woolworths and Coles, alleging misleading discount schemes where prices were inflated before applying promotional discounts;
• competition and market dynamics, including scrutiny of mergers and acquisitions, such as the Vocus Group’s proposed takeover of TPG Telecom assets, to assess potential impacts on competition and consumer choice; • digital economy and consumer data, with the ACCC examining the influence of digital platforms on competition and advocating for regulatory measures to address issues of consumer privacy and market dominance; and • essential services and cost of living, with a focus on the energy and telecommunications sectors, addressing pricing, service quality, and accessibility to mitigate the impacts of rising living costs. Conclusion In 2024, the Australian litigation landscape con- tinued to evolve, driven by developments in class actions, data privacy, environmental disputes, employment law, and regulatory enforcement. Key trends included an emphasis on consumer protection, regulatory oversight, and corporate accountability, reflecting broader societal and legal priorities. These changes highlight the importance of adaptability for businesses and stakeholders in navigating a dynamic legal and regulatory environment.
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