The ACCC did win a $3M AUD judgement against them for their refund policies:
* https://www.accc.gov.au/media-release/valve-to-pay-3-million... (not currently loading for me)
* https://archive.is/9mE7i#selection-4964.0-4978.0 (archive of the above)
> The Court held that the terms and conditions in the Steam subscriber agreements, and Steam’s refund policies, included false or misleading representations about consumers’ rights to obtain a refund for games if they were not of acceptable quality.
> In determining the appropriate penalty to impose on Valve, Justice Edelman noted that “even if a very small percentage of Valve’s consumers had read the misrepresentations then this might have involved hundreds, possibly thousands, of consumers being affected”.
> Justice Edelman also took into account “Valve’s culture of compliance [which] was, and is, very poor”. Valve’s evidence was ‘disturbing’ to the Court because Valve ‘formed a view …that it was not subject to Australian law…and with the view that even if advice had been obtained that Valve was required to comply with the Australian law the advice might have been ignored”. He also noted that Valve had ‘contested liability on almost every imaginable point’.
Valve's notice to consumers is archived here, and no longer on their live website: https://web.archive.org/web/20180427063845/https://store.ste...
I can find news articles saying that the court action began in late Aug/early Sep 2014.
https://www.news.com.au/finance/business/retail/steamowner-v...
Here's an old reddit comment discussing how Valve failed to implement AUD and KRW pricing on schedule, and speculates that at least in Australia's case, it's because of local compliance reasons.
https://old.reddit.com/r/Steam/comments/38dlvd/the_real_reas...
But I can't find anything that definitively ties the rollout of refund policies to an attempt to get the ACCC off their back. The comments on the above reddit post show that GOG and Origin had active refund policies at this time.