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Showing 151 - 160 of 566 results for "Civil"

Allianz subsidiary, former portfolio managers charged over massive fraud

JAMIE WILLIAMSON  |  WEDNESDAY, 18 MAY 2022
... against it by the SEC, as well as more than US$5 billion in restitution to investors. It has also been handed a US$675 million civil penalty, some of which will be distributed to investors. The SEC is also seeking penalties against the three former portfolio ...

NAB evades AUSTRAC fine for non-compliance

ANDREW MCKEAN  |  MONDAY, 2 MAY 2022
National Australia Bank (NAB) has avoided a civil penalty for issues related to anti-money laundering and counter-terrorism financing (AML-CTF) laws. Unlike the Commonwealth Bank and Westpac which received gargantuan fines for AML-CTF breaches, NAB ...

ASIC suspends Dixon Advisory AFSL

ELIZABETH MCARTHUR  |  TUESDAY, 19 APR 2022
... Partners made an ASX announcement about the appointment of administrators to Dixon Advisory on 19 January 2022. ASIC commenced civil penalty proceedings against Dixon Advisory in 2020 for alleged conflicts, best interest failures and inappropriate advice. ...

ASIC takes Federal Court action against Macquarie Bank

ANDREW MCKEAN  |  TUESDAY, 5 APR 2022
ASIC has started civil penalty proceedings in the Federal Court against Macquarie Bank Ltd over alleged failures to monitor third party withdrawals from customer accounts. The corporate watchdog said that limited monitoring by Macquarie of transactions ...

Australia imposes further sanctions on Russia

ELIZABETH MCARTHUR  |  FRIDAY, 1 APR 2022
Australia has increased the economic costs to Russia following its invasion of Ukraine, by applying an additional tariff of 35% for all imports from Russia and its ally Belarus. This further sanctioning of Russia will see Australia issue a formal notification ...

MSCI downgrades Russia's ESG rating

JAMIE WILLIAMSON  |  WEDNESDAY, 2 MAR 2022
... Governance' score was already assessed as being weak under the three categories of 'Stability and Peace', 'Political Rights and Civil Liberties' and 'Governance Effectiveness'," MSCI said. "Using the Sovereign Watch methodology, we have reduced these ...

Global markets shaken by war

ELIZABETH MCARTHUR  |  FRIDAY, 25 FEB 2022
... suggests that the Russians are trying to drive regime change here, and that could result in a protracted, messy and bloody civil war. For the markets, this risks growth in the Eurozone - which could bleed out into the rest of the world - as economic ...

E&P pulls the plug on DASS

KARREN VERGARA  |  WEDNESDAY, 19 JAN 2022
... damages that will arise from the Piper Alderman and Shine Lawyers class actions, numerous claims made to AFCA, as well as civil penalties agreed between DASS and ASIC. Piper Alderman commenced the class action in the Federal Court last November, defending ...

Federal Court imposes $4m penalty on industry fund

CHLOE WALKER  |  TUESDAY, 18 JAN 2022
... strict obligations to report contraventions of the law to ASIC, including time limits in which to do so. This is the first civil case in which the Court has imposed a civil penalty on a licensee for failing to report breaches to ASIC since new penalty ...

CFP Board welcomes new chair

KARREN VERGARA  |  FRIDAY, 14 JAN 2022
... CFP professionals. This misconducts included regulatory actions, firm terminations, customer complaints, arbitrations, and civil court litigation that involve professional conduct, criminal matters, bankruptcies, civil judgments, and tax liens.