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Showing 351 - 360 of 685 results for "Proceedings"

Westpac appoints new chair

ELIZA BAVIN  |  THURSDAY, 23 JAN 2020
... response plan for the AUSTRAC statement of claim," Maxsted said. The appointment comes after AUSTRAC launched legal proceedings against the bank, alleged 23 million breaches of the anti-money laundering and anti-terrorism laws. The scandal led to the ...

Westpac to pay $9.5m for Corps Act breaches

JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
... liability on licensees for the breaches of their financial advisers, ASIC said. This is the result of civil penalty proceedings brought against Westpac by ASIC in June 2018. ASIC's investigation found internal Westpac reviews, including an internal ...

ASIC drags NAB to court for fees-for-no-service

HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
ASIC has launched civil penalty proceedings against NAB in the Federal Court over fees-for-no-service, which the bank continued to charge after the Royal Commission. The corporate regulator is seeking to find NAB made several thousand contraventions ...

APRA joins in on Westpac scrutiny

ELIZA BAVIN  |  TUESDAY, 17 DEC 2019
... following the 2017 CBA Prudential Inquiry. The APRA investigation will be conducted simultaneously to AUSTRAC's legal proceedings and the ASIC investigation, with APRA saying the agencies will cooperate with each other as appropriate.

ASIC takes action against TAL over RC case

HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
ASIC has commenced proceedings against TAL Life in the Federal Court over one of the cases referred to it by Royal Commissioner Kenneth Hayne. The corporate regulator has filed a civil case against TAL, alleging the insurance giant breached the ASIC ...

NULIS satisfies ASIC requirements

HARRISON WORLEY  |  MONDAY, 16 DEC 2019
... Business Super and MLC MasterKey Personal Super products in 2012 and 2013. ASIC said that while its Federal Court proceedings with NULIS over fees for no service remained ongoing, it was still engaging with the trustee in an effort to improve its operations ...

Chief economist update: It's Christmas time in the city

BENJAMIN ONG  |  MONDAY, 9 DEC 2019
... Europe, Argentina and Brazil, and, of course, phase one might not be signed after all. There's also the impeachment proceedings against POTUS, the looming US presidential elections, the still lacklustre/weakening growth in the global economy and ...

ASIC takes action against former AMP adviser

HARRISON WORLEY  |  THURSDAY, 5 DEC 2019
ASIC commenced civil proceedings against a former authorised representative of AMP accused of operating an unregistered managed investment scheme and using investor funds for themselves. The corporate regulator has taken action against former financial ...

Regulators circle as scandal engulfs Westpac

ALLY SELBY  |  WEDNESDAY, 4 DEC 2019
... parliamentary hearing on Monday that the watchdog would confirm by the end of the month whether it would launch legal proceedings under the Banking Executive Accountability Regime (BEAR) against the besieged bank. It comes nearly two weeks after AUSTRAC's ...

Westpac faces 23 million breaches

ELIZA BAVIN  |  WEDNESDAY, 20 NOV 2019
... over 23 million occasions. AUSTRAC chief executive Nicole Rose said that AUSTRAC's decision to commence civil penalty proceedings was made following a detailed investigation into Westpac's non-compliance. "These laws are in place to protect Australia's ...