Such news will also cause Sing

Such news will also cause Singtel to plunge significantly. Equities are really volatile these days. Maybe the very poor mkt sentiment contributed to this as well. Hope that the mkt storm will subside as soon as possible. Sad indeed.

Australian Regulator Sues Singtel's Optus Over Alleged Misconduct Involving Vulnerable Consumers

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Sad indeed.</p></body></html>","htmlText":"<html><head></head><body><p>Such news will also cause Singtel to plunge significantly. Equities are really volatile these days. Maybe the very poor mkt sentiment contributed to this as well.&nbsp; Hope that the mkt storm will subside as soon as possible. Sad indeed.</p></body></html>","text":"Such news will also cause Singtel to plunge significantly. Equities are really volatile these days. Maybe the very poor mkt sentiment contributed to this as well. Hope that the mkt storm will subside as soon as possible. Sad indeed.","highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"link":"https://ttm.financial/post/366199638556888","repostId":2479533724,"repostType":2,"repost":{"id":"2479533724","weMediaInfo":{"introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"media_name":"Dow Jones","id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"pubTimestamp":1730425576,"share":"https://www.laohu8.com/m/news/2479533724?lang=&edition=full","pubTime":"2024-11-01 09:46","market":"hk","language":"en","title":"Australian Regulator Sues Singtel's Optus Over Alleged Misconduct Involving Vulnerable Consumers","url":"https://stock-news.laohu8.com/highlight/detail?id=2479533724","media":"Dow Jones","summary":"Australia's competition watchdog has filed proceedings against Singtel's subsidiary, Optus Mobile, alleging what it called \"unconscionable\" conduct in dealings with some consumers.The Australian Competition and Consumer Commission said Thursday that Optus allegedly put \"undue pressure\" on some customers to buy products and services that they didn't need, without checking if they had Optus coverage where they lived. Some have incurred thousands of dollars of debt from product purchases, including expensive phones, plans and accessories, ACCC said.Optus allegedly also engaged debt collectors to pursue customers, ACCC said, adding that consumers were \"subject to inappropriate or fraudulent sales conduct.\" Other allegations include manipulating credit checks, refusal to cancel contracts and making false, misleading or deceptive representations that goods were \"free\" when they were not, the regulator said.ACCC said many of the affected customers faced vulnerabilities like living with a ment","content":"<html><head></head><body><p>Australia&#39;s competition watchdog has filed proceedings against Singtel&#39;s subsidiary, Optus Mobile, alleging what it called &#34;unconscionable&#34; conduct in dealings with some consumers.</p><p>The Australian Competition and Consumer Commission said Thursday that Optus allegedly put &#34;undue pressure&#34; on some customers to buy products and services that they didn&#39;t need, without checking if they had Optus coverage where they lived. Some have incurred thousands of dollars of debt from product purchases, including expensive phones, plans and accessories, ACCC said.</p><p>The case involves about 429 customers, it said.</p><p>Optus allegedly also engaged debt collectors to pursue customers, ACCC said, adding that consumers were &#34;subject to inappropriate or fraudulent sales conduct.&#34; Other allegations include manipulating credit checks, refusal to cancel contracts and making false, misleading or deceptive representations that goods were &#34;free&#34; when they were not, the regulator said.</p><p>ACCC said many of the affected customers faced vulnerabilities like living with a mental disability, financial difficulties, lacked financial literacy or have lower cognitive capacity. It added that it is seeking &#34;declarations and orders for penalties, non-party consumer redress, publication orders, a compliance program, and costs.&#34;</p><p>&#34;Many consumers suffered financial harm, incurring thousands of dollars of debt and non-financial harm, such as shame, fear, and emotional distress about the debts or being pursued by debt collectors,&#34; said ACCC chairwoman Gina Cass-Gottlieb.</p><p>&#34;We allege Optus&#39; conduct disproportionately impacted consumers experiencing vulnerability and/or disadvantage, and that these practices were incentivised by the commission-based remuneration for sales staff,&#34; Cass-Gottlieb added.</p><p>Optus is Australia&#39;s second-biggest telecommunications group.</p><p>In a statement on Thursday responding to the regulator&#39;s action, Optus&#39;s interim chief executive, Michael Venter, apologized for the misconduct and for the distress caused, calling it &#34;unacceptable.&#34; Venter said the company has taken disciplinary action, including terminations, against staff deemed responsible.</p><p>Venter added that the company is remediating affected customers, including by providing refunds and waiving outstanding debts.</p><p>&#34;We regret that we did not remediate more quickly in some of these cases,&#34; Venter said. &#34;We have cooperated with the ACCC in this investigation to date, will continue to do so and are committed to continuing to improve our processes in relation to customers experiencing vulnerability.&#34;</p><p>Venter is Optus&#39;s chief financial officer and is serving as interim CEO until next month when Stephen Rue takes over.</p></body></html>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Australian Regulator Sues Singtel's Optus Over Alleged Misconduct Involving Vulnerable Consumers</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; 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}\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAustralian Regulator Sues Singtel's Optus Over Alleged Misconduct Involving Vulnerable Consumers\n</h2>\n\n<h4 class=\"meta\">\n\n\n<div class=\"head\" \">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Dow Jones </p>\n<p class=\"h-time\">2024-11-01 09:46</p>\n</div>\n\n</div>\n\n\n</h4>\n\n</header>\n<article>\n<html><head></head><body><p>Australia&#39;s competition watchdog has filed proceedings against Singtel&#39;s subsidiary, Optus Mobile, alleging what it called &#34;unconscionable&#34; conduct in dealings with some consumers.</p><p>The Australian Competition and Consumer Commission said Thursday that Optus allegedly put &#34;undue pressure&#34; on some customers to buy products and services that they didn&#39;t need, without checking if they had Optus coverage where they lived. Some have incurred thousands of dollars of debt from product purchases, including expensive phones, plans and accessories, ACCC said.</p><p>The case involves about 429 customers, it said.</p><p>Optus allegedly also engaged debt collectors to pursue customers, ACCC said, adding that consumers were &#34;subject to inappropriate or fraudulent sales conduct.&#34; Other allegations include manipulating credit checks, refusal to cancel contracts and making false, misleading or deceptive representations that goods were &#34;free&#34; when they were not, the regulator said.</p><p>ACCC said many of the affected customers faced vulnerabilities like living with a mental disability, financial difficulties, lacked financial literacy or have lower cognitive capacity. It added that it is seeking &#34;declarations and orders for penalties, non-party consumer redress, publication orders, a compliance program, and costs.&#34;</p><p>&#34;Many consumers suffered financial harm, incurring thousands of dollars of debt and non-financial harm, such as shame, fear, and emotional distress about the debts or being pursued by debt collectors,&#34; said ACCC chairwoman Gina Cass-Gottlieb.</p><p>&#34;We allege Optus&#39; conduct disproportionately impacted consumers experiencing vulnerability and/or disadvantage, and that these practices were incentivised by the commission-based remuneration for sales staff,&#34; Cass-Gottlieb added.</p><p>Optus is Australia&#39;s second-biggest telecommunications group.</p><p>In a statement on Thursday responding to the regulator&#39;s action, Optus&#39;s interim chief executive, Michael Venter, apologized for the misconduct and for the distress caused, calling it &#34;unacceptable.&#34; Venter said the company has taken disciplinary action, including terminations, against staff deemed responsible.</p><p>Venter added that the company is remediating affected customers, including by providing refunds and waiving outstanding debts.</p><p>&#34;We regret that we did not remediate more quickly in some of these cases,&#34; Venter said. &#34;We have cooperated with the ACCC in this investigation to date, will continue to do so and are committed to continuing to improve our processes in relation to customers experiencing vulnerability.&#34;</p><p>Venter is Optus&#39;s chief financial officer and is serving as interim CEO until next month when Stephen Rue takes over.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU1105468828.SGD":"Allianz Total Return Asian Equity AM DIS H2-SGD","LU0414403682.SGD":"Blackrock Asia Pacific Equity Income A5 SGD-H","LU0048573645.USD":"富达东盟基金","LU0251143029.SGD":"Fidelity ASEAN A-SGD","LU0384037296.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AT\" (USD) ACC","LU0488056044.USD":"Allianz Asian Multi Income Plus Cl AM DIS USD","LU0348814723.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"A\" (USD) INC  NC","LU0210637038.USD":"HSBC GIF THAI EQUITY \"AD\" INC","LU1282649810.SGD":"Allianz Asian Multi Income Plus Cl AMg DIS H2-SGD","LU1242518931.SGD":"Fullerton Lux Funds - Asia Absolute Alpha A Acc SGD","LU0630378692.HKD":"HSBC GIF ASIA PACIFIC EX JAPAN EQ HD \"AM2\" (HKD) INC","LU0955669360.SGD":"Schroder ISF Asian Dividend Maximiser A Dis SGD","LU1282649067.USD":"ALLIANZ ASIAN MULTI INCOME PLUS \"AMG\" (USD) INC A","SG9999002414.USD":"LIONGLOBAL SINGAPORE TRUST (USD) ACC","LU0737861269.HKD":"FIDELITY ASEAN \"A \" (HKD) ACC","LU0738912210.USD":"Blackrock Asia Pacific Equity Income A6 USD","LU0261945553.USD":"FIDELITY ASEAN \"A\" ACC","LU0762540952.USD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AC\" (USD) ACC","LU0979878070.USD":"FULLERTON LUX FUNDS - ASIA ABSOLUTE ALPHA \"A\" (USD) ACC","LU0516423174.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (USD) ACC","LU0532188223.SGD":"JPMorgan Funds - ASEAN Equity A (acc) SGD","LU1130305938.SGD":"Schroder ISF Asian Dividend Maximiser A Dis SGD-H","LU1211504680.USD":"ALLIANZ HIGH DIVIDEND ASIA PACIFIC EQUITY \"AM\" (USD) INC","SG9999001135.SGD":"United ASEAN Fund SGD","LU0918141887.USD":"安联亚洲实际收益股票基金","LU0630378429.USD":"HSBC GIF ASIA PACIFIC EX JAPAN EQ HD \"AM2\" (USD) INC","SG9999001127.SGD":"United Singapore Growth Fund SGD","BK6513":"电信服务股","LU0762542818.HKD":"HSBC GIF MANAGED SOLUTIONS ASIA FOCUSED INCOME \"AM\" (HKD) INC","LU0197773160.USD":"HSBC GIF ASIA PACIF EX JAPAN EQ HD \"AC\" ACC","LU0516422440.USD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"A\" (USD) ACC","LU0348816934.USD":"ALLIANZ TOTAL RETURN ASIAN EQUITY \"AT\" (USD)","LU0197773673.USD":"HSBC GIF ASIA PACIF EX JAPAN EQ HD \"AS\" (USD) INC","LU0572940350.SGD":"Janus Henderson Horizon Asian Dividend Income A3 SGD","LU0577902298.EUR":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (EUR) ACC","BK6035":"综合电信业务","LU0228367735.SGD":"Eastspring Investments - Asian Equity Fund AS SGD","LU0516422952.EUR":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (EUR) ACC","LU0577902538.SGD":"Fullerton Lux Funds - Asia Growth and Income Equities A Acc SGD","LU0264606111.USD":"Janus Henderson Horizon Asian Dividend Income A2 USD","Z74.SI":"新电信","SG9999000343.SGD":"Schroder Singapore Trust A Dis SGD","BK4115":"综合电信业务","LU0572939691.SGD":"Janus Henderson Horizon Asian Dividend Income A2 SGD","LU0516423091.SGD":"FULLERTON LUX FUNDS - ASIA FOCUS EQUITIES \"I\" (SGD) ACC","LU0577902454.USD":"FULLERTON LUX FUNDS - ASIA GROWTH & INCOME EQUITIE \"I\" (USD) ACC","SG9999002679.SGD":"LionGlobal Singapore Balanced SGD","LU0163747925.USD":"EASTSPRING INVESTMENTS ASIAN EQUITY A ACC","SG9999000475.SGD":"Aberdeen Standard Singapore Equity SGD"},"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2479533724","content_text":"Australia's competition watchdog has filed proceedings against Singtel's subsidiary, Optus Mobile, alleging what it called \"unconscionable\" conduct in dealings with some consumers.The Australian Competition and Consumer Commission said Thursday that Optus allegedly put \"undue pressure\" on some customers to buy products and services that they didn't need, without checking if they had Optus coverage where they lived. Some have incurred thousands of dollars of debt from product purchases, including expensive phones, plans and accessories, ACCC said.The case involves about 429 customers, it said.Optus allegedly also engaged debt collectors to pursue customers, ACCC said, adding that consumers were \"subject to inappropriate or fraudulent sales conduct.\" Other allegations include manipulating credit checks, refusal to cancel contracts and making false, misleading or deceptive representations that goods were \"free\" when they were not, the regulator said.ACCC said many of the affected customers faced vulnerabilities like living with a mental disability, financial difficulties, lacked financial literacy or have lower cognitive capacity. It added that it is seeking \"declarations and orders for penalties, non-party consumer redress, publication orders, a compliance program, and costs.\"\"Many consumers suffered financial harm, incurring thousands of dollars of debt and non-financial harm, such as shame, fear, and emotional distress about the debts or being pursued by debt collectors,\" said ACCC chairwoman Gina Cass-Gottlieb.\"We allege Optus' conduct disproportionately impacted consumers experiencing vulnerability and/or disadvantage, and that these practices were incentivised by the commission-based remuneration for sales staff,\" Cass-Gottlieb added.Optus is Australia's second-biggest telecommunications group.In a statement on Thursday responding to the regulator's action, Optus's interim chief executive, Michael Venter, apologized for the misconduct and for the distress caused, calling it \"unacceptable.\" Venter said the company has taken disciplinary action, including terminations, against staff deemed responsible.Venter added that the company is remediating affected customers, including by providing refunds and waiving outstanding debts.\"We regret that we did not remediate more quickly in some of these cases,\" Venter said. \"We have cooperated with the ACCC in this investigation to date, will continue to do so and are committed to continuing to improve our processes in relation to customers experiencing vulnerability.\"Venter is Optus's chief financial officer and is serving as interim CEO until next month when Stephen Rue takes over.","news_type":1},"isVote":1,"tweetType":1,"viewCount":1,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":194,"xxTargetLangEnum":"ORIG"},"commentList":[],"isCommentEnd":true,"isTiger":false,"isWeiXinMini":false,"url":"/m/post/366199638556888"}