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Showing 171 - 180 of 659 results for "Penalty"

Large AFSLs lead advice complaints: AFCA

KARREN VERGARA  |  THURSDAY, 22 JUN 2023
... or cancel registrations. It can also issue an infringement notice or recommend that ASIC apply to the court for a civil penalty.

Former Big Un executive smacked with insider trading charge

ANDREW MCKEAN  |  WEDNESDAY, 14 JUN 2023
... Review TV and Sydney-based financier, First Class Capital. During the period of these alleged activities, the maximum penalty for trading while possessing inside information was a prison term of 10 years. Since then, the maximum sentence has increased ...

Fraudulent property director charged

CHLOE WALKER  |  TUESDAY, 6 JUN 2023
... they dishonestly apply to their own use or to the use of any person property belonging to another person. The maximum penalty for each offence is between 12 and 20 years' imprisonment, depending on the timing of the offences and the level of frau ...

TPB grilled over handling of PwC scandal

JAMIE WILLIAMSON  |  THURSDAY, 1 JUN 2023
... occurred here." In dealing with such matters, the TPB can apply to the Federal Court for an order for payment of a pecuniary penalty - something, Pocock pointed out, it has not done. "Why no fine? The average taxpayer faces a fine [for tax avoidance]," ...

Investment fraud accomplice charged

CASSANDRA BALDINI  |  MONDAY, 22 MAY 2023
... Marissen was released on bail and is next required to appear in the Stirling Garden Magistrates Court in July. The maximum penalty for each offence of fraud under the Criminal Code WA is seven years' imprisonment or 10 years if the person deceived is ...

Poor policy administration sees MLC Life pay $22m

JAMIE WILLIAMSON  |  FRIDAY, 19 MAY 2023
... did not appropriately monitor staff's use of the mail suppression feature. This impacted 282 customers. The $10 million penalty is for failing to pay the benefits, failing to have adequate processes in place to review and, if appropriate, update medical ...

AMP fined $24m for charging deceased customers

KARREN VERGARA  |  FRIDAY, 19 MAY 2023
... Superannuation, and NM Superannuation - breached the law. However, only AMP Life ($18m) and AMPFP ($6m) will pay a combined penalty of $24 million. AMP Life and AMP Financial Planning admitted that they engaged in unconscionable conduct by deducting ...

Ex-Vocus chair indicted for insider trading

ANDREW MCKEAN  |  MONDAY, 15 MAY 2023
... accused after the Magistrates' Court declines to commit an accused for trial. Facing charges that each carry a maximum penalty of 15 years imprisonment, Bowen is next due before court on July 19. Bowen founded telecommunications business M2 Group in ...

HCF Life under ASIC surveillance

CASSANDRA BALDINI  |  FRIDAY, 12 MAY 2023
... is seeking declarations that the term is void as well as injunctions and corrective orders. "Further, ASIC is seeking a penalty regarding the allegation that HCF Life's contracts are liable to mislead the public," it concluded. In response to the ...

NALI measure receives mixed response

JAMIE WILLIAMSON  |  WEDNESDAY, 10 MAY 2023
... on these changes to our members when it is available." Chartered Accountants ANZ said it welcomes the reduction in tax penalty, the measure seems complex. "The bottom line is that the government has rejected the preferred solution of the majority of ...