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Showing 151 - 160 of 661 results for "Penalty"

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 ...

NAB to pay $2.1m for knowingly overcharging customers

JAMIE WILLIAMSON  |  FRIDAY, 22 SEP 2023
... Court over knowingly overcharging customers certain fees and failing to tell them. The court has ordered the bank pay the penalty for continuing to charge periodic payment fees it knew was not entitled to for almost two years after being made aware of ...

Trading platform pays $830k over suspicious trades

JAMIE WILLIAMSON  |  THURSDAY, 21 SEP 2023
... this instance, it was fined $250,000. The MDP has been significantly more active in 2023 than in previous years, with the penalty issued to Interactive Brokers marking the fifth it's handed out this year. Between 2018 and 2022 the MDP only issued a maximum ...

ASIC takes legal action against crypto exchange

ANDREW MCKEAN  |  THURSDAY, 21 SEP 2023
ASIC has commenced civil penalty proceedings against Bit Trade, provider of crypto exchange Kraken, following alleged failures to adhere to design and distribution obligations for margin products offered to Australian customers. Since the introduction ...

Treasury consults on PwC-linked reforms

CASSANDRA BALDINI  |  WEDNESDAY, 20 SEP 2023
... to $780 million for tax breaches, jumping 100% from $7.8 million. The government will also look to expand tax promoter penalty laws so they're easier for the ATO to apply to advisers and firms that promote tax avoidance. Further, it will increase the ...

Experience pathway enshrined in legislation

KARREN VERGARA  |  FRIDAY, 8 SEP 2023
... Advisers who do not meet the qualification standards by that date cease to be a relevant provider and will face civil penalty sanctions for breaching the Corporations Act if they continue to provide personal financial advice. Previously, new entrants ...

AustralianSuper sued over multiple accounts

JAMIE WILLIAMSON  |  FRIDAY, 8 SEP 2023
... had gone undetected. The average impacted member was to receive $650. Now, the corporate regulator has launched civil penalty proceedings against the nation's largest superannuation fund, saying the fund failed to have adequate policies and procedures ...

ASIC cracks down on CFDs, OTC derivatives

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... derivatives, options, and other derivative arrangements. To date, ASIC has issued 10 interim stop orders and commenced a civil penalty proceeding for alleged breaches of DDOs and has engaged with product issuers to do the right thing. Such instruments ...

Government passes FAR legislation

KARREN VERGARA  |  WEDNESDAY, 6 SEP 2023
... breaches of the regime, and direct entities to take remedial action and to apply to the Federal Court to impose a civil penalty on accountable entities," Jones said. BEAR, the FAR's first iteration, was recommended by Commissioner Kenneth Hayne in ...