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Showing 341 - 350 of 661 results for "Penalty"

Chief economist update: No Karens in China

BENJAMIN ONG  |  TUESDAY, 28 JUL 2020
... outbreak continues to bear dividends. China's hard-fisted enforcement of quarantine and isolation measures - under penalty of imprisonment or fine or both - worked in the first wave in Wuhan and in the second wave in Beijing, where the outbreaks ...

UBS to cough up $14m over bond bungle

ALLY SELBY  |  THURSDAY, 23 JUL 2020
... LeeAnn G. Gaunt, chief of the Division of Enforcement's Public Finance Abuse Unit. The order includes a US$1.75 million penalty, US$6.74 million in disgorgement of ill-gotten gains, as well as over US$1.5 million in prejudgment interest. The SEC also ...

Forex Capital to face Federal Court

ALLY SELBY  |  FRIDAY, 17 JUL 2020
The corporate watchdog has kicked off civil penalty proceedings in the Federal Court of Australia against contracts-for-difference and FX broker Forex Capital, as well as its sole director. If found guilty of all allegations, director Shlomo Yoshai ...

Industry super accused of misleading consumers

ELIZABETH MCARTHUR  |  THURSDAY, 16 JUL 2020
... profile than term deposits. "At a previous hearing in November last year, I asked you why it was that ASIC had issued a penalty to BT for misleading statements online which were to do with them using the key term 'industry super' when people ...

Financial institution charged over Epstein scandal

ELIZA BAVIN  |  THURSDAY, 9 JUL 2020
The US Department of Financial Services (DFS) has hit Deutsche Bank with a US$150 million penalty for the bank's relationship with disgraced financier Jeffrey Epstein. This marks the first enforcement action by a regulator against a financial institution ...

ASIC sues CBA, CFS over RC case

HARRISON WORLEY  |  TUESDAY, 23 JUN 2020
... them. The regulator is chasing civil penalties against the bank and CFSIL, with each contravention attracting a maximum penalty of $1 million. The case was first raised at the Royal Commission, and ASIC deputy chair Daniel Crennan said the regulator's ...

ATO cracks down on ERS misuse

ELIZA BAVIN  |  MONDAY, 22 JUN 2020
... statements or fraudulent attempts to meet the criteria. The ATO said each false and misleading statement will carry a penalty of over $12,000. Additionally, the ATO said it is on the lookout for people seeking to withdraw and recontribute their superannuation ...

Judgement delivered in binary options fraud

ALLY SELBY  |  FRIDAY, 19 JUN 2020
... will be permanently banned from carrying on a financial services business, and will be forced to pay up a $1.8 million penalty. Allianz Metro will also be barred from financial services, while Senese will be permanently banned from managing corporations ...

Sam Henderson in court over phantom degree

KANIKA SOOD  |  WEDNESDAY, 10 JUN 2020
... following a referral of a brief of evidence from ASIC. Each s952D(2)(a)(ii) Corporations Act offence carries a maximum penalty of five years' imprisonment and/or a fine of up to 200 penalty units. The three counts of dishonesty that he has been charged ...

CBA coughs up $5m over RC case study

ALLY SELBY  |  TUESDAY, 9 JUN 2020
... failures in its AgriAdvantage Plus Package, with the Federal Court of Australia ordering the bank to cough up a $5 million penalty. On Friday, the Court found that the bank had breached the ASIC Act and Corporations Act between May 2005 and December ...