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Showing 411 - 420 of 666 results for "Penalty"

ASIC sues ANZ over unlawful fees

KANIKA SOOD  |  THURSDAY, 25 JUL 2019
... hasn't paid back customers charged prior to 31 December 2007. The ASIC Act contraventions attract a maximum pecuniary penalty of between $1.7 million and $2.1 million per contravention. ASIC said ANZ's contract terms and conditions defined a periodical ...

Standard Life Assurance fined for hawking non-advised annuities

KARREN VERGARA  |  WEDNESDAY, 24 JUL 2019
... call monitoring," the regulator said. SLA did not dispute the FCA's findings, meaning it received a 30% discount on its penalty. The financial penalty otherwise would have been £43,989,300 ($78.32m). On 31 January 2017, SLA voluntarily agreed to conduct ...

Portfolio manager caught out faking returns

KANIKA SOOD  |  FRIDAY, 19 JUL 2019
... for re-entry after three years, disgorgement of ill-gotten gains of US $600,000 plus prejudgment interest and a civil penalty of US $100,000. Concurrent to SEC action, the Commodity Futures Trading Commission (CFTC) also entered a consent order against ...

Nomura ordered to pay back US $25m

KANIKA SOOD  |  TUESDAY, 16 JUL 2019
... million to RMBS customers and over US $4.2 million to CMBS customers. In addition to this, it will pay a US $1 million penalty in the RMBS-related case and a US $500,000 penalty in the CMBS-related case. "Both orders note that the penalty amounts reflect ...

State Street cops $125m penalty

JAMIE WILLIAMSON  |  WEDNESDAY, 3 JUL 2019
... which State Street has been returning directly to the affected registered investment companies. It will also pay a civil penalty of $57.2 million (USD40 million).

ASIC chases licensee over conflicted remuneration

HARRISON WORLEY  |  THURSDAY, 13 JUN 2019
... agent who sold property to the firm's clients via self-managed super funds established under its guidance. Beginning civil penalty proceedings in the Federal Court yesterday, ASIC alleged The SMSF Club advised clients to set up SMSFs and then use the ...

Former Futuro adviser charged with theft

ELIZABETH MCARTHUR  |  TUESDAY, 11 JUN 2019
... Wealth. He is currently on bail, remanded to appear in the committal court later this month. Smith is facing a maximum penalty of 15 years in prison for each offence. ASIC permanently banned Smith in January last year, saying that he was not of good ...

Macquarie Securities cops ASIC penalty

KANIKA SOOD  |  MONDAY, 3 JUN 2019
Macquarie's securities business has paid a $300,000 penalty for contravening market integrity rules, the corporate regulator said this morning. ASIC issued an infringement notice to Macquarie Securities on May 3, after its markets disciplinary panel ...

APRA flexes new muscles

HARRISON WORLEY  |  WEDNESDAY, 22 MAY 2019
... entities to implement and maintain an Office of the Superannuation Trustee (OST) within the group or risk facing a financial penalty. The move comes after IOOF breached a license condition imposed by the prudential regulator in December, when it failed ...

Industry fund fined over independent advice claims

KARREN VERGARA  |  THURSDAY, 9 MAY 2019
... has been forced to remove "independent" from its financial advice messaging and consequently slapped with a financial penalty issued by the corporate regulator. ASIC alleged Hostplus provided misleading claims to consumers about offering "independent ...