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Showing 361 - 370 of 661 results for "Penalty"

CBA in court over RC case studies

ELIZABETH MCARTHUR  |  MONDAY, 16 MAR 2020
... could see he would be able to pay off the debts was to try and win some money, creating a spiral. ASIC has not said what penalty it is seeking in this case and a date has not been set for the hearing. In the AgriAdvantage case, ASIC contends that a total ...

Life insurers breach own code consistently

ELIZABETH MCARTHUR  |  WEDNESDAY, 11 MAR 2020
... delays in the processing of consumers' claims, the insurers should take immediate action to pay compensation, including penalty interest." The LCCC identified systematic issues which caused the delays in claims processing at insurers. About 315 of the ...

Helping everyone helps women

ELIZABETH MCARTHUR  |  THURSDAY, 5 MAR 2020
... policy, 95% of new fathers took more than two weeks off. The report's authors noted that motherhood typically brings a wage penalty and reduces workplace equality. "These issues are not just a problem for women, they are a problem for society and the ...

Court punishes OTC derivative issuers

HARRISON WORLEY  |  FRIDAY, 28 FEB 2020
... potential performance of the products they were pressured to purchase. ASIC said a further hearing would determine the penalty and relief to be paid. The corporate regulator originally warned investors against AGM, OT and Ozifin after obtaining interim ...

ASIC turns up the heat on enforcement

HARRISON WORLEY  |  THURSDAY, 27 FEB 2020
... work had been focused on responding to referrals and case studies from the Royal Commission, such as the recent civil penalty litigation it took against TAL, for allegedly breaching the ASIC Act, Corporations Act and Insurance Contracts Acts in avoiding ...

SG amnesty bill finally passes

HARRISON WORLEY  |  TUESDAY, 25 FEB 2020
... before the amnesty ends." Employers found to be underpaying their worker's superannuation will be subject to a minimum penalty of 100% of the SG shortfall they owe - and up to 200% in serious cases - if they fail to get their house in order before the ...

SMSF property adviser pleads guilty

ELIZA BAVIN  |  MONDAY, 24 FEB 2020
... those funds towards the intended property purchase." The charge of dishonest dealings with documents carries a maximum penalty of 10 years, while the charges of aggravated deception each carry a maximum penalty of 15 years. Nowak was banned from providing ...

Wells Fargo coughs up $4.5 billion

ALLY SELBY  |  MONDAY, 24 FEB 2020
... Fund" for the benefit of investors who were harmed by the fake account scandal. The "Fair Fund" is included in the overall penalty. Wells Fargo has admitted to collecting millions of dollars in fees and interest to which it was not entitled, in the process ...

Former AMP, Synchron adviser charged

HARRISON WORLEY  |  FRIDAY, 21 FEB 2020
... beginning an almost four year stint at Synchron, which ended in April 2018. If found guilty, the charges carry a maximum penalty of between 10 to 14 years imprisonment, depending on when the offences occurred after a change in the Criminal Code over ...

Blockchain startup raises $68m, ordered to return funds

ALLY SELBY  |  FRIDAY, 21 FEB 2020
... register these tokens as securities. It has agreed to file periodic reports with the SEC and will cough up a $500,000 penalty. The SEC's Boston associate director for enforcement, John Dugan, said the settlement will provide compensation to wronged ...