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Showing 221 - 230 of 659 results for "Penalty"

Defective disclosures see Avanteos Investments fined

JAMIE WILLIAMSON  |  WEDNESDAY, 15 JUN 2022
The former Commonwealth Bank subsidiary will pay a penalty of $1.71 million for failing to update defects in its disclosure documents related to charging fees to super members after they'd died. This marks the first criminal prosecution for failing ...

Market manipulator pleads guilty

STAFF WRITER  |  FRIDAY, 10 JUN 2022
... one charge. At the time of Cooper's offence, the charge of conspiring to commit market manipulation carried a maximum penalty of 10 years imprisonment. In March 2019, the maximum penalty for the offence was increased to 15 years imprisonment. Kimelman ...

ASIC prosecutes market manipulator

CHLOE WALKER  |  TUESDAY, 7 JUN 2022
... Govinda stated: "Dummy bids are all part of the fun and games and cat and mouse of the stockmarket!" He now faces a maximum penalty for each charge of 10 years' imprisonment or a fine of up to $765,000, or both. Posting on social media as part of ...

Former van Eyk chief executive pleads guilty

JAMIE WILLIAMSON  |  WEDNESDAY, 1 JUN 2022
... in September 2014, van Eyk entered voluntary administration and went into liquidation the following month. The maximum penalty for each offence is $340,000, five years in prison, or both. A date for Thomas' sentencing it yet to be scheduled.

ANZ sued by ASIC

CASSANDRA BALDINI  |  MONDAY, 30 MAY 2022
ANZ has acknowledged the civil penalty proceedings launched against it in Federal Court by ASIC for allegedly misleading and overcharging thousands of customers. The corporate watchdog today alleged that between May 2016 and November 2016 around 165,750 ...

BNY Mellon subsidiary to pay US$1.5m over ESG misstatements

CASSANDRA BALDINI  |  TUESDAY, 24 MAY 2022
... SEC's findings, BNY Mellon Investment Adviser agreed to a cease-and-desist order, a censure, and to pay the US$1.5 million penalty. The SEC's order also noted that BNY Mellon Investment Adviser promptly undertook remedial acts and cooperated with Commission ...

Allianz subsidiary, former portfolio managers charged over massive fraud

JAMIE WILLIAMSON  |  WEDNESDAY, 18 MAY 2022
... the SEC, as well as more than US$5 billion in restitution to investors. It has also been handed a US$675 million civil penalty, some of which will be distributed to investors. The SEC is also seeking penalties against the three former portfolio managers. ...

NAB evades AUSTRAC fine for non-compliance

ANDREW MCKEAN  |  MONDAY, 2 MAY 2022
National Australia Bank (NAB) has avoided a civil penalty for issues related to anti-money laundering and counter-terrorism financing (AML-CTF) laws. Unlike the Commonwealth Bank and Westpac which received gargantuan fines for AML-CTF breaches, NAB ...

ASIC suspends Dixon Advisory AFSL

ELIZABETH MCARTHUR  |  TUESDAY, 19 APR 2022
... an ASX announcement about the appointment of administrators to Dixon Advisory on 19 January 2022. ASIC commenced civil penalty proceedings against Dixon Advisory in 2020 for alleged conflicts, best interest failures and inappropriate advice. These proceedings ...

Mayfair sues Mission Beach lender

ELIZABETH MCARTHUR  |  THURSDAY, 14 APR 2022
... second legal fight mounted in a week. On Friday, he appealed his 20-year ban from Financial Services and the $30 million penalty handed down to Mayfair companies. In March 2021, the court found Mayfair Wealth Partners and Online Investments (trading ...