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Showing 131 - 140 of 659 results for "Penalty"

Zurich cleared by Federal Court in life insurance dispute

ANDREW MCKEAN | MONDAY, 8 JAN 2024

... connected to OnePath Life's avoidance of an income protection policy. The case marks ASIC's first attempt to impose a civil penalty under s13 of the Insurance Contracts Act 1984 (Cth), a section that mandates insurers uphold the duty to act with utmost ...

ASIC takes action on EverBlu, director

KARREN VERGARA | MONDAY, 18 DEC 2023

ASIC commenced civil penalty proceedings against Adam Blumenthal, the director of investment bank EverBlu Capital, for alleged market rigging and failing in his duties as a director to manage conflicts of interest. The case will also look at Blumenthal's ...

ANZ fined $900k over shares disclosure failure

CHLOE WALKER | MONDAY, 11 DEC 2023

... Meanwhile, ASIC deputy chair Karen Chester said the fine confirms the paramount importance of continuous disclosure. "The penalty and remarks from the Judge are a clear and resolute message to ANZ and the market that this conduct was very serious," Chester ...

Former adviser convicted over false documents

CHLOE WALKER | THURSDAY, 30 NOV 2023

... account by Judge Zempilas when handing down the sentence," ASIC said. At the time of Fong's offending, the maximum penalty for an individual for engaging in dishonest conduct while providing financial advice and carrying on a financial services business ...

OnePath cops $5m fine over fees for no service

CASSANDRA BALDINI | THURSDAY, 30 NOV 2023

The Federal Court has imposed a $5 million penalty on OnePath Custodians for unlawfully deducting adviser service fees from members. According to court documents, the trustee made misleading representations about its right to continue charging fees ...

Mercer fined $12m over advice failures

JAMIE WILLIAMSON | THURSDAY, 23 NOV 2023

... in this case does not occur." ASIC had proposed to the court that Mercer be fined $20 million, while Mercer claimed a penalty of $8.5 million was sufficient, adding that this would be equivalent to 1.4 to 2.1 years of normalised profits. The court met ...

Perth Mint enters voluntary enforceable undertaking

CASSANDRA BALDINI | THURSDAY, 23 NOV 2023

... could include seeking court orders to enforce the EU or cancelling it and taking other action, including commencing civil penalty proceedings in the Federal Court. AUSTRAC believes the EU will ensure that Gold Corporation addresses the AML/CTF deficiencies ...

SEC sues Kraken exchange again

CASSANDRA BALDINI | WEDNESDAY, 22 NOV 2023

... agreed to cease offering or selling securities through crypto asset staking services or staking programs and pay a civil penalty of $30 million. "We allege that Kraken made a business decision to reap hundreds of millions of dollars from investors rather ...

ASIC to crack down on superannuation misconduct

ANDREW MCKEAN | WEDNESDAY, 15 NOV 2023

... the financial system. The corporate regulator's update highlighted its actions from July to September, including a civil penalty imposed on AustralianSuper for not merging duplicate accounts, a lapse that led to members incurring $69 million in fees. ...

Fears grow around greenwashing litigation protections

ROSE MARY PETRASS | WEDNESDAY, 8 NOV 2023

... scenario analysis and transition planning. Climate-related financial disclosure requirements would be drafted as civil penalty provisions in the Corporations Act. It is suggested this would "reduce uncertainty for reporting entities and encourage companies ...

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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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