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Showing 121 - 130 of 688 results for "Penalty"

Hanson backs Dixon Advisory inquiry

KARREN VERGARA  |  WEDNESDAY, 18 SEP 2024
... financial advice that breached the best interests duty under the Corporations Act. ASIC ultimately settled for a $7.2 million penalty and $1 million to cover its legal costs. The amounts have yet to be paid. FAAA chair David Sharpe said on LinkedIn ...

Director pleads guilty to 'dishonestly' obtaining near $1m

MATTHEW WAI  |  TUESDAY, 17 SEP 2024
... order imposed by ASIC in the year prior. The matter has been listed for a sentence hearing on November 1. The maximum penalty for each charge is 10 years' imprisonment.

Growing super balances show more work to be done: ASFA

MATTHEW WAI  |  MONDAY, 16 SEP 2024
... of a child. With the current settings, this time out of the workforce to raise the next generation becomes a financial penalty for women in retirement," Delahunty said. "The introduction of super payments on paid parental leave will assist to bridge ...

CLSA penalised over data mistakes

MATTHEW WAI  |  FRIDAY, 30 AUG 2024
CLSA Australia paid a penalty of $144,300 in relation of an infringement notice for failing to provide correct regulatory data to the relevant market operator. The infringement noticed, given by Markets Disciplinary Panel (MDP), considered that from ...

E&P free of legacy issues, FUA jumps 26%

KARREN VERGARA  |  FRIDAY, 30 AUG 2024
... take action against Dixon Advisory in a timely manner and then only focussing on advice issues in their ultimate civil penalty action, as well as postponing the end date of its AFCA membership to accept hundreds of extra claims in the final months. "In ...

ASIC wins case against crypto exchange Kraken

ANDREW MCKEAN  |  MONDAY, 26 AUG 2024
... regarding the margin offering and "will move quickly to comply and continue to service our customers." ASIC commenced civil penalty proceedings against Bit Trade in September 2023 after previously warning the company about its failure to comply with ...

ANZ hit with $250m capital penalty

ELIZA BAVIN  |  FRIDAY, 23 AUG 2024
The Australian Prudential Regulation Authority (APRA) has increased the capital add-on applied to ANZ to $750 million in response to heightened concerns about the bank's non-financial risk management practices. APRA said it has longstanding concerns ...

Recordkeeping breach costs RBC, BNY Mellon US$85m

KARREN VERGARA  |  FRIDAY, 16 AUG 2024
... Ameriprise Financial Services, Edward D. Jones & Co, LPL Financial, Raymond James & Associates each agreed to pay the largest penalty of US$50 million. Smaller firms such as Apex Fintech Solutions' Apex Clearing Corporation will pay US$6 million ...

ASX sued by ASIC for alleged misleading statements

ELIZA BAVIN  |  WEDNESDAY, 14 AUG 2024
... lead to a lack of confidence in Australia as a market to attract investment," Longo said. ASIC is yet to determine the penalty it will seek for ASX's alleged contraventions.

Mercer Super cops landmark $11.3m greenwashing penalty

KARREN VERGARA  |  FRIDAY, 2 AUG 2024
Mercer Superannuation Australia has been slapped with a whopping $11.3 million penalty by the Federal Court on the back of an ASIC-led greenwashing investigation. Mercer was found to make misleading statements on its website about seven Sustainable ...