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Showing 411 - 420 of 1678 results for "Breach"

NAB evades AUSTRAC fine for non-compliance

ANDREW MCKEAN  |  MONDAY, 2 MAY 2022
National Australia Bank (NAB) has avoided a civil penalty for issues related to anti-money laundering and counter-terrorism financing (AML-CTF) laws. Unlike the Commonwealth Bank and Westpac which received gargantuan fines for AML-CTF breaches, NAB ...

Maritime Super slapped with infringement

ELIZABETH MCARTHUR  |  WEDNESDAY, 27 APR 2022
Maritime Super, which is soon to merge with Hostplus, has been hit with an infringement notice by ASIC over alleged misleading statements to members about its partnership with Hostplus. In a significant event notification and a newsletter sent to members ...

Six cases brought against Westpac now finalised

JAMIE WILLIAMSON  |  FRIDAY, 22 APR 2022
The six Federal Court cases brought against Westpac by ASIC late last year have been finalised, with the banking giant to pay a total of $113 million in penalties. A decision in the final of the six matters, all overseen by Justice Beach, was handed ...

'No easy answer' to ESG disclosures by super fund trustees

ANDREW MCKEAN  |  THURSDAY, 21 APR 2022
... also be labelled as deceptive conduct by the Act. Subsequently, such actions can be reportable to ASIC as a "significant breach." A catch-all disclosure requirement in the Corporations Act technically required RSE licensees to disclose anything that ...

ASIC takes Federal Court action against Macquarie Bank

ANDREW MCKEAN  |  TUESDAY, 5 APR 2022
ASIC has started civil penalty proceedings in the Federal Court against Macquarie Bank Ltd over alleged failures to monitor third party withdrawals from customer accounts. The corporate watchdog said that limited monitoring by Macquarie of transactions ...

Border rule-breaking former adviser banned

JAMIE WILLIAMSON  |  TUESDAY, 5 APR 2022
Mark Babbage, the financial adviser who was jailed last year for breaching Western Australia's tough border restrictions to attend the AFL Grand Final, has been banned from providing advice for 10 years. Babbage was arrested by Western Australia police ...

WTW adds cybersecurity consultant

JAMIE WILLIAMSON  |  WEDNESDAY, 23 MAR 2022
... clients." The expanding of the team comes as the Office of the Australian Information Commissioner said it received 464 data breach notification in the second half of 2021, with many committed against major organisations. Wiggan is based in WTW's Brisbane ...

Dealer group faces anti-hawking charges

JAMIE WILLIAMSON  |  TUESDAY, 22 MAR 2022
... Solutions has been charged under the previous provisions. At the time of the alleged offences, the maximum penalty for each breach of s992A(3) of the Corporations Act was $133,200. The matter is being prosecuted by the Commonwealth Director of Public ...

ASIC issues warning to finfluencers

JAMIE WILLIAMSON  |  MONDAY, 21 MAR 2022
... that conveys a recommendation that someone should (or should not) invest in that product or class of products, you could breach the law by providing unlicensed financial product advice." "If you're an influencer who receives benefits or payment for ...

FPA pushes for advice law simplification

KARREN VERGARA  |  WEDNESDAY, 2 MAR 2022
Heavy-handed regulations puts financial advisers at significant risk of breaching the law, according to the Financial Planning Association of Australia, which is urging the government to strip out layers of complexity in the latest round of reforms. ...