Australian watchdog flexes new muscle with VW pollution fine
Securities and Investments Commission follows with separate suit over sloppy checks for loans
20 December 2019 - 13:23
Sydney — Volkswagen (VW) took two raps in Australia on Friday as a federal court upheld a fine on the German carmaker as part of a global diesel emissions cheating scandal and a regulator started penalty proceedings against one of its financial units.
The court upheld a record A$125m ($86m) penalty imposed by the Australian Competition and Consumer Commission (ACCC) to settle lawsuits brought on behalf of thousands of Australian customers caught up in the emissions issue from 2015...
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