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Showing 411 - 420 of 688 results for "Penalty"

ASIC launches action against AFSL, director

ELIZA BAVIN  |  WEDNESDAY, 11 DEC 2019
... from retail investors pursuant to the alleged defective PDSs. Each of the alleged breaches carries a maximum possible penalty of $200,000.

Use 401k to pay student debts: US senator

ELIZABETH MCARTHUR  |  FRIDAY, 6 DEC 2019
... save more money for retirement. The HELPER Act will allow US citizens to take up to $5250 from a 401(K) or IRA, tax and penalty free, to pay off student loans or pay tuition costs. With student debt levels in the US at their highest, the plan would also ...

ASIC bans direct life cold calling

HARRISON WORLEY  |  WEDNESDAY, 4 DEC 2019
... insurers engaging in poor sales conduct, noting its successful court case against CommInsure which last week drew a $700,000 penalty after the firm plead guilty to 87 counts of unlawful life insurance hawking. In February 2018, an ASIC review of ClearView's ...

Planners heed SMSF risk warning

JAMIE WILLIAMSON  |  FRIDAY, 29 NOV 2019
... in whatever they choose to, that being one of the main reasons someone would have an SMSF... Still, it did outline the penalty for not meeting requirements," Dunn said. That penalty is $4200, applicable to every individual trustee within the SMSF, to ...

CommInsure cops $700k hawking fine

HARRISON WORLEY  |  THURSDAY, 28 NOV 2019
... Corporations Act. The firm made an early guilty plea to the charges earlier this month, which carried a maximum total penalty of $1,848,750. ASIC noted that if the conduct had occurred under the new penalty regime effective from March 2019, the maximum ...

ASIC launches investigation into Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
... of anti-money laundering laws and counter terrorism laws. AUSTRAC last week applied to the Federal Court seeking civil penalty orders against Westpac relating to "systematic" non-compliance with the Anti Money Laundering and Counter Terrorism Act 2006 ...

Brian Hartzer steps down from Westpac

ELIZABETH MCARTHUR  |  TUESDAY, 26 NOV 2019
... of anti-money laundering laws and counter terrorism laws. AUSTRAC last week applied to the Federal Court seeking civil penalty orders against Westpac relating to "systematic" non-compliance with the Anti Money Laundering and Counter Terrorism Act 2006 ...

Westpac faces 23 million breaches

ELIZA BAVIN  |  WEDNESDAY, 20 NOV 2019
... breaches of anti-money laundering laws and counter terrorism laws. AUSTRAC has applied to the Federal Court seeking civil penalty orders against Westpac relating to "systematic" non-compliance with the Anti Money Laundering and Counter Terrorism Act ...

Defined contribution: A global perspective

HARRISON WORLEY  |  THURSDAY, 14 NOV 2019
... many jobs during their career. Each time, they have the opportunity to take their money out. It's taxed and there's a penalty, but still they do it. And that creates a problem with them amassing money that's sufficient for retirement," Lucas said. Lucas ...

NAB faces half a billion in fines

ELIZA BAVIN  |  WEDNESDAY, 13 NOV 2019
... its customers were exposed to risk of taking out unsuitable loans as a result of its conduct. Under the law, the maximum penalty for each individual breach is between $1.7 million to $1.8 million, adding up to close to $500 million combined. During the ...