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Showing 371 - 380 of 666 results for "Penalty"

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 ...

Westpac forks out $80m for AUSTRAC scandal

ELIZA BAVIN  |  THURSDAY, 20 FEB 2020
... class actions and regulatory investigations. In November last year AUSTRAC applied to the Federal Court seeking civil penalty order against Westpac relating to "systematic" non-compliance with the Anti-Money Laundering and Counter Terrorism Act on over ...

Franklin Templeton to acquire Legg Mason

JAMIE WILLIAMSON  |  WEDNESDAY, 19 FEB 2020
... Templeton and Legg Mason limits competing bids for the latter by prohibiting solicitation of further bids. A termination penalty is also imposed if Legg Mason accepts a superior bid. Meanwhile, Rigrodsky & Long is also investigating for similar reaso ...

AMP to pay $5m for churn

JAMIE WILLIAMSON  |  WEDNESDAY, 5 FEB 2020
... transferring the policies. The court today found AMP contravened section 961L of the Corporations Act six times, incurring a penalty of $5.175 million. The court said the penalty proceeding reflects a "lamentable failure of corporate will to take the ...

Westpac facing new class action

ELIZA BAVIN  |  MONDAY, 3 FEB 2020
... breaches of anti-money laundering and counter terrorism laws with AUSTRAC applying to the Federal Court seeking civil penalty orders against Westpac.

UK regulator fined for pension failure

HARRISON WORLEY  |  TUESDAY, 28 JAN 2020
... A list of enforcement activities for the third quarter of 2019 shows the TPR hit the FCA Pension Plan with the maximum penalty for a non-compliant chair's statement. According to TPR, chair's statements are required to contain a "considerable ...