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Showing 11 - 20 of 688 results for "Penalty"

Federal Court confirms Netwealth's First Guardian failures

MATTHEW WAI  |  FRIDAY, 21 AUG 2026
... investors in January, after Netwealth confirmed it would compensate victims in December 2025. ASIC did not seek a pecuniary penalty in the matter, owing to the circumstances of the case, including the timely payment of compensation to affected members ...

Fiducian Group statutory profit falls 28%

MATTHEW WAI  |  MONDAY, 17 AUG 2026
... statutory net profit after tax (NPAT) has slipped nearly 30% in the 12 months to June end compared to FY25 due to ASIC's penalty of $7.3 million imposed for greenwashing. Fiducian chair Inderjit Singh said excluding the non-recurring item, the group ...

ASX profits slump as ASIC inquiry costs bite

ELIZA BAVIN  |  THURSDAY, 13 AUG 2026
... $484.9 million. Total expenses were up 21.1% in the period to $557 million, including $51.1 million associated with the penalty and legal costs associated with the settlement of ASIC legal proceedings. Other drivers of total expenses included the design ...

ASX shareholder looks to sue directors, officers over CHESS

ELIZA BAVIN  |  WEDNESDAY, 12 AUG 2026
... Release 1 and settlement and subregister services in Release 2. Release 1 went live on 20 April 2026. ASIC commenced civil penalty proceedings in the Federal Court against ASX in August 2024, alleging it made the admitted misleading statements. The exchange ...

Former director jailed for misuse of $1.75m

VINNY VUCAGO  |  TUESDAY, 11 AUG 2026
... also highlighted the importance of general deterrence in sentencing white-collar offenders. The offences carry a maximum penalty of 15 years' imprisonment under section 184(2)(a) of the Corporations Act 2001.

ASIC boasts $830m record civil penalties

KARREN VERGARA  |  MONDAY, 20 JUL 2026
ASIC has scored a whopping $830 million in civil penalty orders in the last financial year alone, a Freedom of Information (FOI) request revealed. The FOI obtained by Lambros Photios, the founder of technology services and artificial intelligence (AI) ...

NAB-owned WealthHub cops $1m ASIC fine

VINNY VUCAGO  |  WEDNESDAY, 15 JUL 2026
NAB-owned online broker WealthHub Securities has been hit with a $1.055 million penalty after ASIC found it failed to accurately report regulatory data more than 9.5 million times over a decade. ASIC said he reporting failures undermined the corporate ...

ASIC fines Deutsche Bank for 'systemic' reporting failures

KARREN VERGARA  |  MONDAY, 13 JUL 2026
... Deutsche Bank's internal reporting framework." Deutsche Bank cooperated with ASIC's investigation and has paid the penalty. The bank is also implementing measures to prevent further reporting errors. Deutsche Bank did not admit to contravening ...

WA director admits investor deception

VINNY VUCAGO  |  TUESDAY, 30 JUN 2026
... gain an advantage for himself, contrary to section 184(2)(a) of the Corporations Act 2001. Each offence carries a maximum penalty of 15 years' imprisonment. The charges related to conduct between 13 March 2019 and 1 November 2023, during which Bowden ...

Mercer Super fined $10.3m for reportable situations failures

KARREN VERGARA  |  MONDAY, 29 JUN 2026
Mercer Superannuation Australia will pay a $10.3 million penalty after it admitted to breaching the Reportable Situations Regime on several occasions, which the Federal Court found could have had the "potential to have a detrimental effect on members." ...