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Market Integrity Update - Issue 82 - May 2017

Friday, 19th May 2017
The latest updates about regulatory developments and issues affecting market intermediaries.
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Government looks to review measurement labelling laws

Friday, 19th May 2017
The Australian Government has responded to industry calls to cut red tape around product packaging regulations, with options to change measurement marking placement rules released for public consultation.
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ACCC takes action against Ultra Tune under Franchising Code

Friday, 19th May 2017
The ACCC alleges that in 2015 Ultra Tune failed to act in good faith in its dealing with a prospective franchisee, and failed to provide this prospective franchisee with documents the Code specifies must be provided before accepting a non-refundable payment.
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Compensation update: major financial advisory institutions continue refund programs for fees-for-no-service

Friday, 19th May 2017
AMP, ANZ, CBA, NAB and Westpac have so far repaid more than $60 million of an expected $200 million-plus total in refunds and interest for failing to provide general or personal financial advice to customers while charging them ongoing advice fees.
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ATO Acting Commissioner statement

Thursday, 18th May 2017
Today, as reported by the Australian Federal Police (AFP), warrants have been executed as part of an ongoing joint investigation by the ATO and AFP into a syndicate arrangement alleged to be involved in tax fraud activity and organised crime.
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What you need to know before you grow

Thursday, 18th May 2017
Check out IP Australia’s new content on commercialisation steps you should consider…
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ATO targeting the profits of organised crime

Wednesday, 17th May 2017
Almost 200 outlaw motor cycle gang members have been targeted for tax evasion as part of a week of action undertaken by the Australian Taxation Office (ATO), the Australian Federal Police (AFP) and state and territory police.
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Tax cuts back Toowoomba small businesses

Wednesday, 17th May 2017
Cuts to the tax rate for small businesses – down to the lowest level in many decades – backs small businesses in Toowoomba and the Darling Downs to grow, Member for Groom Dr John McVeigh says.
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