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Showing 21 - 30 of 688 results for "Penalty"

ASIC charges developer over alleged $10m fraud

VINNY VUCAGO  |  TUESDAY, 23 JUN 2026
... investor funds were being used for significant gambling activity at The Star casino. If convicted, McWilliams faces a maximum penalty of 20 years' imprisonment. The matter is being prosecuted by the Commonwealth Office of the Director of Public Prosecutions. ...

SMC pushes for carers to qualify for SG

VINNY VUCAGO  |  TUESDAY, 23 JUN 2026
... for women, who carry the bulk of caring responsibilities. It's a foundation stone to begin to tackle the carer poverty penalty," Schubert said. The report also highlighted superannuation gaps affecting approximately 184,000 gig economy workers, 515,000 ...

HSBC Bank fined $35m in landmark scam-protection failures

KARREN VERGARA  |  FRIDAY, 19 JUN 2026
HSBC Bank Australia has been hit with a $35 million penalty after admitting to widespread and systemic failures in protecting customers from scams. Following a Federal Court hearing in Melbourne on June 18, Justice Bennett handed down the penalty and ...

Block Earner found to have offered an unlicensed financial product

MATTHEW WAI  |  THURSDAY, 18 JUN 2026
... products, and if so, ensure they are appropriately licensed or authorised before distributing them." ASIC commenced civil penalty proceedings against Block Earner in November 2022 over concerns on investor protection, and although Block Earner was found ...

Former fund manager admits to obstructing SEC probe

KARREN VERGARA  |  TUESDAY, 16 JUN 2026
... expense of others." Days before entering the plea, the SEC slapped Franklin Templeton's Western AM with a US$100 million penalty for failing to detect and prevent its former staffer's cherry-picking scheme. The watchdog found the fund manager failed ...

ASIC secures record $300m penalty over 'egregious' CFD misconduct

VINNY VUCAGO  |  MONDAY, 15 JUN 2026
... case to envisage a more serious case of contravening conduct," he said. The judgment also marks the first time a civil penalty has been imposed on a financial services licensee for failing to ensure services were provided efficiently, honestly and fairly ...

ASX to pay $23m, admits misrepresentation over CHESS replacement

MATTHEW WAI  |  MONDAY, 15 JUN 2026
... Release 1 and settlement and subregister services in Release 2. Release 1 went live on 20 April 2026. ASIC commenced civil penalty proceedings in the Federal Court against ASX in August 2024, alleging it made the now admitted misleading statements. By ...

Franklin Templeton's Western AM hit with US$100m penalty

KARREN VERGARA  |  TUESDAY, 9 JUN 2026
Franklin Templeton's Western Asset Management has been hit with a whopping US$100 million penalty for failing to detect and prevent its former co-chief investment officer's alleged cherry-picking scheme. The order follows the SEC's 2024 ...

Treasury releases adverse genetic test results ban draft regulation

KARREN VERGARA  |  TUESDAY, 9 JUN 2026
... draft regulation is also "strengthening compliance and enforcement by confirming that strict liability offences and civil penalty provisions will be captured under the infringement notice scheme in the Insurance Contracts Act 1984." "Once in force, the ...

AFCA to update rules on new genetic testing laws

KARREN VERGARA  |  TUESDAY, 2 JUN 2026
... on which the cover is offered. ASIC will enforce the new legislation as insurers that ignore the ban can face a civil penalty. Insurers, however, will still be able to access information about a disease for which an individual has been clinically diagnosed ...