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Showing 161 - 170 of 659 results for "Penalty"

Active Super to face action over greenwashing

RACHEL ALEMBAKIS | FRIDAY, 11 AUG 2023

... assets after the invasion of Ukraine while purporting otherwise to members. The markets regulator has commenced civil penalty proceedings alleging "misleading conduct and misrepresentations to the market relating to claims it was an ethical and responsible ...

Wall Street firms slugged $442m for recordkeeping breach

KARREN VERGARA | WEDNESDAY, 9 AUG 2023

... Capital agreed to pay US$15 million. Furthermore, Moelis & Company and Wedbush Securities each copped a US$10 million penalty, while SMBC Nikko Securities America is forced to pay US$9 million. "Each of the broker-dealers was charged with violating certain ...

Government cracks down following PwC scandal

CASSANDRA BALDINI | TUESDAY, 8 AUG 2023

... restore public confidence and help prevent this from happening again." The government said it will expand tax promoter penalty laws so they're easier for the Australian Taxation Office (ATO) to apply to advisers and firms who promote tax avoidance. It ...

Former director pleads guilty to super misuse

CASSANDRA BALDINI | FRIDAY, 4 AUG 2023

... citing that Naseeruddin had operated a financial services business without the appropriate licence. The highest maximum penalty for such offences is up to 15 years imprisonment. This matter is being prosecuted by the Commonwealth Director of Public Prosecutions ...

ASIC sues Vanguard for greenwash in bond fund

RACHEL ALEMBAKIS | TUESDAY, 25 JUL 2023

... fund. This is the second time the market regulator has acted against Vanguard over greenwashing. ASIC has lodged civil penalty proceedings in federal court, alleging Vanguard "made false and misleading statements and engaged in conduct liable to mislead ...

Super sector falling behind in cyber security: Podcast

CASSANDRA BALDINI | MONDAY, 24 JUL 2023

... inconvenient. But from a fund's perspective, the major impacts are reputational damage, the loss of member trust, and penalty from the regulators. "There's also the other impact of spending the time effort and resource in uplifting those processes ...

CBA staff head to Fair Work over WFH policy

JAMIE WILLIAMSON | THURSDAY, 13 JUL 2023

... also calling for a trial 30-hour work week, an additional 22.8 hours of 'Life Leave' and the introduction of a Tea Break Penalty in which where a tea break cannot be taken the employee would be entitled to 200% loading for the remainder of a shift or ...

Selfwealth chief in sudden exit

KARREN VERGARA | FRIDAY, 7 JUL 2023

... shareholder returns," Christian said. Selfwealth was integrated with Openmarkets, which recently copped a $4.5 million penalty from ASIC and was forced to undergo an enforceable undertaking. At one point, Selfwealth was rumoured to be looking to acquire ...

Openmarkets hit with largest ever MDP penalty

ANDREW MCKEAN | THURSDAY, 6 JUL 2023

Openmarkets Australia has paid a $4.5 million penalty, the largest sanction ever imposed by an ASIC Market Disciplinary Panel, after contravening market integrity rules. An ASIC investigation was triggered by a series of transgressions, most notably ...

Morrison Securities pays infringement over DTRs

CHLOE WALKER | THURSDAY, 22 JUN 2023

Morrison Securities (Morrison) has paid a penalty of $333,000 to comply with an infringement notice given by the Markets Disciplinary Panel (MDP). According to the MDP, Morrison contravened the ASIC Market Integrity Rules on six occasions between October ...

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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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