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Showing 361 - 370 of 566 results for "Civil"

VOFF asks Medcraft to "face the music"

ALEX BURKE  |  WEDNESDAY, 23 MAY 2018
... financial services sector to the detriment of unsuspecting customers across the country," the VOFF statement said. "Criminal and civil corporate misbehaviour flourished undetected for nearly a decade at a massive cost to ordinary Australians. "VOFF has ...

Fees for no service compensation unfinished business: ASIC

DARREN SNYDER  |  THURSDAY, 17 MAY 2018
... there have also been 19 criminal convictions in this financial year and 160 since 2011. ASIC has obtained $35.1 million in civil penalties in FY18; more than $230 million for consumers and $1.7 billion since 2011. AustralianSuper chief executive and ...

CBA cops $25 million for BBSW rigging

KANIKA SOOD  |  WEDNESDAY, 9 MAY 2018
... have allocated to its fee for no service clients, as at December end, in its Royal Commission submissions. ASIC initiated civil penalty proceedings against CBA in January, alleging it traded in the bank bill market with the purpose of affecting the yield ...

Federal government responds to white collar crime Senate inquiry

KANIKA SOOD  |  MONDAY, 7 MAY 2018
... agreed -in-principle to the rest. It will amend legislation to increase the availability of infringement notices, ramp up civil penalties including allowing the maximum to be set by a multiple of benefit gained or loss avoided, and lastly, to allow for ...

Government ramps up ASIC powers

ALEX BURKE  |  FRIDAY, 20 APR 2018
In light of the Royal Commission, the Turnbull Government has increased criminal and civil penalties for corporate misconduct and boosted ASIC's surveillance powers. Treasurer Scott Morrison and Minister for Revenue and Financial Services Kelly O'Dwyer ...

Government increases market manipulation penalties

JAMIE WILLIAMSON  |  THURSDAY, 29 MAR 2018
... reforms, the manipulation of any financial benchmark or product used to determine a benchmark is now a specific offence with civil and criminal penalties applicable. The maximum penalty for an individual found guilty of such conduct includes a fine of ...

ASIC closes doors on Storm charges with two fines

ALEX BURKE  |  FRIDAY, 23 MAR 2018
... compensation in relation to losses suffered on investments made through Storm." The regulator's investigation began in 2008. Civil penalty proceedings commenced in 2010, and the trial took place between 30 May 2016 and 30 June 2016. Speaking to Financial ...

ASIC to target non-compliant advisers and AFSLs

JAMIE WILLIAMSON  |  THURSDAY, 1 MAR 2018
... actions resulted in a total of $94.4 million paid in compensation and remediation to investors and consumers; $21.7 million in civil penalties; $1.7 million in infringement notices; and $40.5 million in community benefit fund payments. Further, more ...

CBA affirms BBSW position

DARREN SNYDER  |  TUESDAY, 27 FEB 2018
... ASIC's investigation and is looking "to constructively engage with ASIC in order to resolve this matter." ASIC's initial civil proceedings alleged CBA traded a large number of its products with the intention to influence the BBSW on three specific occasions ...

Credit Suisse under investigation

JAMIE WILLIAMSON  |  FRIDAY, 16 FEB 2018
... governmental and regulatory authorities in regards to potential violations of the US' Foreign Corrupt Practices Act and other civil statutes. The Department of Justice and the US Securities and Exchange Commission are among those investigating whether ...