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Showing 331 - 340 of 566 results for "Civil"

Court fines stockbroker $350k

KARREN VERGARA  |  THURSDAY, 22 NOV 2018
... comply with the rules, but did dismissed it. After State One failed to comply with the infringement notice, ASIC commenced civil penalty proceedings against it on 21 November 2016. ASIC Commissioner Cathie Armour said the Market Integrity Rules are vital ...

Frydenberg splashes $50m to pursue financial services crime

HARRISON WORLEY  |  FRIDAY, 16 NOV 2018
... institutions. The additional funding will help the CDPP and Federal Court deal with an expected increase in prosecutions and civil action stemming from the additional $70 million awarded to ASIC to ensure it is well resourced to fight crime in financial ...

Global asset managers sign responsible firearms framework

DARREN SNYDER  |  THURSDAY, 15 NOV 2018
State Street Global Advisors and Nuveen are among the first signatories of a document designed to improve engagement with companies that manufacture, distribute, sell or regulate products within the civilian firearms industry. Thirteen institutional ...

Former adviser jailed, ASIC posts FY18 stats

KARREN VERGARA  |  THURSDAY, 1 NOV 2018
... convictions, 13 custodial sentences and 133 people were banned or removed from financial services. About $42.2 million of civil penalties were paid. According to ASIC's FY18 annual report, enforceable undertakings totalled 27 for the period. ASIC ...

Enforceable undertakings are effective: Research

KARREN VERGARA  |  FRIDAY, 26 OCT 2018
... conducted by ASIC and the University of NSW, which shows financial services firms prefer EUs over harsher sanctions such as civil penalties. Moreover, EUs are favoured so firms so can keep their reputation intact and avoid damage or losses, the study ...

Revised penalties come down hard on white collar crime

HARRISON WORLEY  |  MONDAY, 22 OCT 2018
... In a media release on Sunday, Treasurer Josh Frydenberg said criminal penalties were set to double in some cases, while civil penalties for corporations and individuals would skyrocket. Following a review of ASIC's enforcement powers, the Government ...

Hayne admonishes ASIC

KARREN VERGARA  |  FRIDAY, 28 SEP 2018
... congruent with the needs of the economy. On his last point, Hayne explained: "Legislation allowing punishment (criminal or civil) of conduct proceeds from the premise that engaging in the conduct is harmful to society. In financial services legislation ...

Elon Musk charged with securities fraud

KANIKA SOOD  |  FRIDAY, 28 SEP 2018
... complaint with the district court of the Southern District of New York. It is seeking permanent injunction, disgorgement, civil penalties and a bar prohibiting Musk from serving as an officer or director of a public company, on the allegation that he ...

Macquarie chiefs embroiled in German investigation

HARRISON WORLEY  |  FRIDAY, 28 SEP 2018
... German law as "persons of interest or suspects" in order to be interviewed. Macquarie said the matter was also the subject of civil litigation, adding a German litigation Special Purpose Vehicle brought a claim against its banking arm seeking €30 million ...

Super funds call for grandfathering ban

KARREN VERGARA  |  THURSDAY, 27 SEP 2018
... also urging for APRA to be able to impose sanctions for failures to act in the best interests of members - either through civil penalties or the imposition of conditions on a licence or revocation of authorisation or a licence. ASFA chief executive Martin ...