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Showing 1 - 10 of 659 results for "Penalty"

AFCA to update rules on new genetic testing laws

KARREN VERGARA  |  TUESDAY, 2 JUN 2026
... on which the cover is offered. ASIC will enforce the new legislation as insurers that ignore the ban can face a civil penalty. Insurers, however, will still be able to access information about a disease for which an individual has been clinically diagnosed ...

APRA slaps additional licence conditions on HTFS Nominees

KARREN VERGARA  |  FRIDAY, 29 MAY 2026
... it offers them to advisers and their clients. Adding more to its troubles, ASIC announced last wee k it commenced civil penalty proceedings against ETSL, alleging failures in care, skill and diligence concerning the decision to allow members to invest ...

Westpac fined $26m for financial hardship neglect

KARREN VERGARA  |  WEDNESDAY, 27 MAY 2026
... should have responded to hardship notices within 21 days as required by law. The Federal Court handed down the pecuniary penalty yesterday, finding the bank "failed to do all things necessary to ensure that the credit activities authorised by the credit ...

ASIC launches action against Equity Trustees for $65m First Guardian failures

ELIZA BAVIN  |  THURSDAY, 21 MAY 2026
ASIC has commenced civil penalty proceedings in the Federal Court against Equity Trustees Superannuation (ETSL), alleging failures in care, skill and diligence concerning the decision to allow members to invest in the First Guardian Master Fund. This ...

TelstraSuper did fall foul of IDR obligations: Federal Court

JAMIE WILLIAMSON  |  FRIDAY, 8 MAY 2026
... TelstraSuper to agree on a statement of facts in relation to the contraventions admitted or established by the fund ahead of a penalty hearing, which is yet to be scheduled.

Rest calls on government to fix 'motherhood penalty'

VINNY VUCAGO  |  TUESDAY, 5 MAY 2026
New insights from Rest Super highlights the ongoing impact of the "motherhood super penalty", with women continuing to fall behind in retirement savings due to time out of the workforce and reduced earning capacity, the $100 billion super fund said. ...

Treasury mulls increased powers for TPB

ELIZA BAVIN  |  TUESDAY, 14 APR 2026
... preparers; increase the maximum amounts for civil penalties; allow infringement notices for alleged breaches of some civil penalty provisions; enable enforceable voluntary undertakings; and allow contingent and interim suspensions of registration in ...

Former Big Un chief pleads guilty to insider trading

RIDDHIMA TALWANI  |  FRIDAY, 10 APR 2026
... January 2017, knowing reasonably the shareholder would likely trade Big Un shares and options. Evans could face a maximum penalty of 15 years imprisonment. ASIC said the information concerned the number of customers who had already been onboarded to ...

APRA imposes additional licence conditions on Fiducian

RIDDHIMA TALWANI  |  WEDNESDAY, 1 APR 2026
... weaknesses identified in platform trustees," Cole said. Separately, Fiducian will pay ASIC a $7.3 million greenwashing penalty. ASIC found Fiducian made false and misleading statements about the socially responsible and ethical nature of its Diversified ...

Fiducian to pay $7.3m greenwashing fine

KARREN VERGARA  |  TUESDAY, 31 MAR 2026
... Investment Management Services (FIMS) entered into the heads of agreement with ASIC to pay the $7.3 million pecuniary penalty. It will also reimburse ASIC for its legal costs of about $650,000. The product disclosure statement of DSAF was found to have ...
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