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Showing 141 - 150 of 659 results for "Penalty"

Sterling Income Trust executives charged

CHLOE WALKER | MONDAY, 6 NOV 2023

... abetting Sterling Corporate Services in engaging in dishonest conduct concerning a financial product or service. The maximum penalty for this type of offence is 10 years' imprisonment and/or a fine of nearly $100,000, ASIC said. The Sterling Income Trust ...

Westpac reports $7.2bn profit

KARREN VERGARA | MONDAY, 6 NOV 2023

... customer hardship requests over a seven-year period. Westpac blames it on "technology failure". ASIC has commenced civil penalty proceedings in the Federal Court, alleging that it failed to respond to hardship notices within 21 days as required by law. ...

Financial services firms hit with criminal charges

CHLOE WALKER | TUESDAY, 31 OCT 2023

... statements may result in cancellation of a licensee's Australian financial services (AFS) licence," it said. The ultimate penalty for each failure to lodge a profit and loss statement and balance sheet, as well as an auditor's report with the profit ...

ASIC loses case against Diversa

JAMIE WILLIAMSON | TUESDAY, 24 OCT 2023

... trustee knew about a now banned adviser's dodgy behaviour but failed to act. In October 2021, ASIC commenced civil penalty proceedings against Diversa, alleging it had breached the law by allowed Australian Super Find, the Australian Dealer Group ...

ANZ breached disclosure laws in 2015 raise: Court

CHLOE WALKER | MONDAY, 16 OCT 2023

... materially undersubscribed. ASIC will now make submissions on appropriate penalties. Last month, ANZ was hit with a $15 million penalty for misleading customers over the funds available to them in select credit card accounts.

BBY chief charged with aiding and abetting fraud

KARREN VERGARA | TUESDAY, 10 OCT 2023

... November 2014 to early 2015. Each offence of section 192E(1)(b) and 346 of the Crimes Act 1900 (NSW) carries a maximum penalty of 10 years' imprisonment. The matter was adjourned for further mention on December 5 and is being prosecuted by the Commonwealth ...

Skynet adviser stole $10.2m: Court

KARREN VERGARA | THURSDAY, 28 SEP 2023

... when he returned to Australia and has been in remand since. Nugara pleaded guilty to 37 charges and faces the maximum penalty of 20 years' imprisonment. He is to be sentenced next week.

EQT launches new wholesale fund down under

CHLOE WALKER | TUESDAY, 26 SEP 2023

... investors to have at least a three to five-year view on the product. "In the first 18 months, it's going to cost a small penalty to get out, because we don't want EQT Nexus to be a trading product," he explained.

ANZ hit with $15m penalty for misleading customers

ANDREW MCKEAN | TUESDAY, 26 SEP 2023

... $45 per affected account, some individual customers were charged thousands of dollars in fees. On top of the $15 million penalty, the bank is also rolling out a targeted remediation program to refund customers who incurred cash advance fees between November ...

US regulator fines DWS US$25m for greenwashing, AML offences

RACHEL ALEMBAKIS | TUESDAY, 26 SEP 2023

... enforcement action." Without admitting or denying the SEC's findings, DWS agreed to a cease-and-desist order and a US$6 million penalty in the AML action; and to a cease-and-desist order, censure, and a US$19 million penalty in the ESG misstatements ...

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Australian Unity to shed 195 roles

MATTHEW WAI | 12:42PM

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI | 12:34PM

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI | 12:17PM

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA | 12:29PM

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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