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Showing 111 - 120 of 666 results for "Penalty"

Ascot Securities hit with infringement notice for 'serious failures'

ANDREW MCKEAN  |  THURSDAY, 20 JUN 2024
... notice by the Markets Disciplinary Panel (MDP) in November last year for serious failures, resulting in a $3.1 million penalty and a requirement to enter an enforceable undertaking. However, Ascot chose not to comply. Shortly after the infringement notice ...

ASIC appeals judge's call to not penalise Block Earner

JAMIE WILLIAMSON  |  TUESDAY, 18 JUN 2024
ASIC is appealing the Federal Court's recent decision to not issue a penalty to Block Earner after it was found to have provided unlicensed financial services. In November 2022, ASIC commenced civil penalty proceedings against Block Earner, which offered ...

Block Earner dodges massive fine

KARREN VERGARA  |  WEDNESDAY, 5 JUN 2024
The Federal Court has absolved Block Earner from paying a penalty for trading without a financial services licence, which ASIC believes should have been $350,000. While Judge Jackman determined that while Block Earner, which invested in cryptocurrency ...

Industry reacts to Federal Budget

ELIZA BAVIN  |  WEDNESDAY, 15 MAY 2024
... announcement to pay super on parental leave takes Australia another major stride closer to ending the financial motherhood penalty many women face when they have children," she said. "It's a watershed reform that will powerfully strengthen retirement ...

J.P. Morgan hit with $775k penalty

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
J.P. Morgan Securities Australia Limited (JPMSAL) has been hit with a $775,000 fine by the Markets Disciplinary Panel (MDP) following an investigation by the Australian Securities and Investments Commission (ASIC). The MDP found JPMSAL permitted suspicious ...

Men, women in same occupation drive pay gap

KARREN VERGARA  |  FRIDAY, 3 MAY 2024
... "The factor that does seem to drive the gap wider is personal - being married and having dependent children imposes a penalty on how much women earn compared to men. This penalty exists for women but not for men," said e61 Institute research manager ...

Macquarie Bank to pay $10m for unauthorised fee transactions

ELIZA BAVIN  |  MONDAY, 22 APR 2024
The Federal Court has ordered Macquarie Bank to pay a penalty of $10 million for failing to have effective controls to prevent and detect unauthorised fee transactions conducted by third parties, such as financial advisers, on customer cash management ...

ESSSuper faces class action threat over unpaid super

ANDREW MCKEAN  |  FRIDAY, 12 APR 2024
... more than $40 million in unpaid superannuation. The $36 billion super fund has been accused of failing to include shift penalty allowances in superannuation calculations for some members of its Transport Superannuation Fund - a closed defined benefit ...

Billionaire receives death penalty for embezzlement

KARREN VERGARA  |  FRIDAY, 12 APR 2024
A Vietnamese billionaire property developer has been sentenced to death for embezzling US$12.5 billion - the country's largest case of financial fraud, several reports show. The People's Court of Ho Chi Minh City yesterday handed down the death ...

'Licensee for hire' fined $1.25m by court

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
Lanterne Fund Services was issued a $1.25 million penalty by the Federal Court for failing to comply with basic obligations, including operating with almost no compliance staff or risk management processes. In July 2022, ASIC issued civil penalty proceedings ...