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Showing 121 - 130 of 659 results for "Penalty"

Bloom Impact, MSC pulled up for greenwashing

RACHEL ALEMBAKIS | THURSDAY, 29 FEB 2024

... Investments Australia, Tlau Energy and Northern Trust Asset Management. ASIC currently has three greenwashing-related civil penalty actions before the Federal Court - Vanguard Investments Australia and Active Super, while a tentative agreement has been ...

Former director pleads guilty to hedge fund con

JAMIE WILLIAMSON | WEDNESDAY, 14 FEB 2024

... just 1.4%. Sandiford will appear in court again on March 15, at which time a sentencing hearing will be set. The maximum penalty for Sandiford's offences is 15 years in prison or the greater of $945,000 or a fine three times the total value of the benefits ...

ASIC chases 757 adviser registrations

KARREN VERGARA | FRIDAY, 9 FEB 2024

... as well as ongoing advice services." From February 16, those who are unregistered are in breach of a restricted civil penalty provision; the AFSL provider will have committed an offence of strict liability and contravened a civil penalty provision. Phil ...

Unlicensed crypto investor faces jail time

CHLOE WALKER | TUESDAY, 6 FEB 2024

... caution." Hala was released on bail yesterday, and the matter has been adjourned for further mention on April 15. The maximum penalty for each of Hala's nine offences is five years' imprisonment.

ASIC to tighten grip on super fund misdemeanours

ANDREW MCKEAN | FRIDAY, 2 FEB 2024

... indicates that some superannuation are failing to meet basic member service standards. Notably, ASIC has initiated civil penalty proceedings against TelstraSuper for not meeting internal dispute resolution standards, alleging the corporate fund failed ...

Westpac loses Ausgrid rate swap case

JAMIE WILLIAMSON | THURSDAY, 1 FEB 2024

... ensure the transaction was provided to the consortium efficiently, honestly, and fairly. The Court handed down the maximum penalty to Westpac, being just $1.8 million. This is because of when the conduct occurred. Civil penalties have significantly increased ...

ASIC files contempt orders against repeat offender

CHLOE WALKER | MONDAY, 29 JAN 2024

... providing 'fast cash' to financially vulnerable clients, which was followed with inappropriate advice. Fuoco was also fined a penalty of $650,000 for his involvement. ASIC now alleges that between March 2019 and April 2023, in contravention of these ...

Penta Capital fined for fabricated FUM

KARREN VERGARA | MONDAY, 22 JAN 2024

... four infringement notices. "If Penta does not pay the remaining instalments ASIC may further investigate and file civil penalty proceedings," ASIC said. ASIC clarified that Penta Capital "is not an Australian financial services licensee or authorised ...

Court fines Linchpin, Endeavour directors

KARREN VERGARA | THURSDAY, 11 JAN 2024

... Linchpin Capital Group and Endeavour Securities, both of which are now in liquidation, were slapped with a combined $390,000 penalty by the Federal Court for breaching their duties. Last April, the court found that Ian Williams, Paul Raftery, Paul Nielsen ...

ASIC cracks down on Prospero for reporting failures

CHLOE WALKER | WEDNESDAY, 10 JAN 2024

... recently suspended the AFSL of Melbourne-based over-the-counter (OTC) derivatives issuer Prospero Markets (Prospero). The penalty comes after the Forex and CFD trading platform, which services mainly Chinese-speaking clients, failed to lodge its annual ...

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BT appoints new head of strategy

KARREN VERGARA

A former Allianz Retire+ executive has joined BT as the new head of strategy.

ASX sees trade volumes soar in May

MATTHEW WAI

ASX saw a substantial growth in trade volumes last month, despite continued lackluster movement in IPOs.

Otivo launches AI-powered financial advice

MATTHEW WAI

Otivo has launched a mobile app for Australians to access licensed advice powered by AI.

Munro expands access to climate focused fund

VINNY VUCAGO

The Munro Global Growth Climate Leaders PIE Fund has been opened to retail investors in New Zealand.

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