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Showing 401 - 410 of 688 results for "Penalty"

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 ...

Westpac to pay $9.5m for Corps Act breaches

JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
... responsible licensee, it had contravened the Corporations Act but contested the exact number of contraventions and the penalty that should be applied. The court found Sinha failed to act in the best interests of his clients, provided inappropriate financial ...

TAL loses group insurance mandate

JAMIE WILLIAMSON  |  THURSDAY, 19 DEC 2019
... ASIC is seeking civil penalties for TAL's alleged breach of section 12DB of the ASIC Act - which attracts a maximum penalty of 10,000 penalty units or $1.7 million.

Westpac served class action

JAMIE WILLIAMSON  |  WEDNESDAY, 18 DEC 2019
... said. The bank will defend the claims, it said. In November AUSTRAC applied to the Federal Court of Australia for civil penalty orders against Westpac over systemic non-compliance with anti-money laundering and counter-terrorism laws totaling 23 million ...

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 ...

Former Goldman Sachs exec charged over $62m bribery

ELIZABETH MCARTHUR  |  TUESDAY, 17 DEC 2019
... of the federal securities laws and agreed to be permanently barred from the securities industry. He will have to pay a penalty of $62 million (US$43.7 million), which has been partially offset by amounts already paid in relation to parallel criminal ...

ASIC takes action against TAL over RC case

HARRISON WORLEY  |  TUESDAY, 17 DEC 2019
... ASIC is seeking civil penalties for TAL's alleged breach of section 12DB of the ASIC Act - which attracts a maximum penalty of 10,000 penalty units or $1.7 million. This is in addition to "declarations" in relation to section 12DA of the act, section ...

Pershing Securities breaches client money obligations

ALLY SELBY  |  WEDNESDAY, 11 DEC 2019
... and one count of failing to comply with requirements relating to a client money account. Pershing could face a maximum penalty of $135,000. ASIC alleged that the company failed to comply with client money obligations between June 2016 and December 2018. ...

APRA slaps extra conditions on Avanteos

HARRISON WORLEY  |  WEDNESDAY, 11 DEC 2019
... ASIC's inquiries raise additional matters of prudential concern." In this instance, APRA is unable to wield its new civil penalty powers under the SIS Act because of the historic nature of the conduct. Avanteos self-reported its breaches to APRA ...