Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 1 - 10 of 554 results for "Penalty"

Industry reacts to Federal Budget

ELIZA BAVIN  |  WEDNESDAY, 15 MAY 2024
... announcement to pay super on parental leave takes Australia another major stride closer to ending the financial motherhood penalty many women face when they have children," she said. "It's a watershed reform that will powerfully strengthen retirement ...

J.P. Morgan hit with $775k penalty

ELIZA BAVIN  |  THURSDAY, 9 MAY 2024
J.P. Morgan Securities Australia Limited (JPMSAL) has been hit with a $775,000 fine by the Markets Disciplinary Panel (MDP) following an investigation by the Australian Securities and Investments Commission (ASIC). The MDP found JPMSAL permitted suspicious ...

Men, women in same occupation drive pay gap

KARREN VERGARA  |  FRIDAY, 3 MAY 2024
... "The factor that does seem to drive the gap wider is personal - being married and having dependent children imposes a penalty on how much women earn compared to men. This penalty exists for women but not for men," said e61 Institute research manager ...

Macquarie Bank to pay $10m for unauthorised fee transactions

ELIZA BAVIN  |  MONDAY, 22 APR 2024
The Federal Court has ordered Macquarie Bank to pay a penalty of $10 million for failing to have effective controls to prevent and detect unauthorised fee transactions conducted by third parties, such as financial advisers, on customer cash management ...

ESSSuper faces class action threat over unpaid super

ANDREW MCKEAN  |  FRIDAY, 12 APR 2024
... more than $40 million in unpaid superannuation. The $36 billion super fund has been accused of failing to include shift penalty allowances in superannuation calculations for some members of its Transport Superannuation Fund - a closed defined benefit ...

Billionaire receives death penalty for embezzlement

KARREN VERGARA  |  FRIDAY, 12 APR 2024
A Vietnamese billionaire property developer has been sentenced to death for embezzling US$12.5 billion - the country's largest case of financial fraud, several reports show. The People's Court of Ho Chi Minh City yesterday handed down the death ...

'Licensee for hire' fined $1.25m by court

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
Lanterne Fund Services was issued a $1.25 million penalty by the Federal Court for failing to comply with basic obligations, including operating with almost no compliance staff or risk management processes. In July 2022, ASIC issued civil penalty proceedings ...

James Mawhinney applies to have ASIC's case struck out

ELIZA BAVIN  |  MONDAY, 8 APR 2024
... its misleading or deceptive conduct case in 2020, in which Mayfair's entities were found liable and issued a $30 million penalty. The lawyers claim Mayfair was not legally represented at the trial of the misleading or deceptive conduct matter, because ...

ASIC wins greenwashing case against Vanguard

JAMIE WILLIAMSON  |  THURSDAY, 28 MAR 2024
... to reflect the true position." ASIC and Vanguard will return to the courtroom on August 1 at which time the appropriate penalty will be determined. The case was first brought by ASIC in July 2023. At the time, Vanguard said it had self-identified and ...

Director facing $13k fine in first of its kind action from ASIC

ELIZA BAVIN  |  MONDAY, 25 MAR 2024
... before the Downing Centre Local Court on 16 April 2024. The NPO has since been extended to 16 April 2024. The maximum penalty for an offence against section 1272C(1) of the Act is 60 penalty units. ASIC said the defendant in this matter was facing a ...
PREVIOUS
NEXT