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Showing 421 - 430 of 661 results for "Penalty"

Hayne targets superannuation employer connections

KARREN VERGARA  |  MONDAY, 4 FEB 2019
... 68A does not go far enough in preventing "treating" employers and called for the Act to be amended to include a civil penalty provision in the event of a breach - which is to be enforceable by ASIC. Stop deducting advice fees from MySuper accounts Hayne ...

Hayne recommends new regulatory overseer

HARRISON WORLEY  |  MONDAY, 4 FEB 2019
... consumers, and added ASIC should be given power to enforce all provisions in the SIS Act which are or will become civil penalty provisions.

Ponzi scheme fined $1.4bn

KANIKA SOOD  |  WEDNESDAY, 30 JAN 2019
... its 281 related companies to pay US$892 million in disgorgement. It also ordered Shapiro to pay a US$100 million civil penalty and to disgorge US$18.5 million in ill-gotten gains, plus US$2.1 million in prejudgment interest. Shapiro has not admitted ...

CBA stashes cash for compliance

DARREN SNYDER  |  WEDNESDAY, 12 DEC 2018
... bank's multi-year financial crime compliance program of action. This was launched after the AUSTRAC anti-money laundering penalty announced in June. The provision is in addition to its remediation provisions for Credit Card Plus, Personal Loan Protection ...

New SG laws hit Senate

KARREN VERGARA  |  FRIDAY, 7 DEC 2018
... comply with the direction and a 21-day deadline to make the payment. An employer failing to comply will face a maximum penalty of 50 units, imprisonment for 12 months or both. Currently, failure to pay an employee super results in financial penalties ...

Celebrities cop $1m crypto fine

JAMIE WILLIAMSON  |  MONDAY, 3 DEC 2018
... and Khaled agreed to pay disgorgement, penalties and interest. Mayweather will pay $300,000 in disgorgement, a $300,000 penalty, and $14,775 in prejudgment interest. Khaled will pay $50,000 in disgorgement, a $100,000 penalty, and $2,725 in interest. ...

Court fines stockbroker $350k

KARREN VERGARA  |  THURSDAY, 22 NOV 2018
The Federal Court has ordered a stockbroking firm to pay a $350,000 penalty for failing to comply with Market Integrity Rules. In early March 2011, State One Stockbroking placed 19 bids on behalf of a client when it should have reasonably suspected ...

Westpac cops BBSW fine

HARRISON WORLEY  |  MONDAY, 12 NOV 2018
Westpac will pay a $3.3 million penalty over its involvement in the bank bill swap rate saga that's ensnared Australian banks this year. On Friday the Federal Court ordered the bank pay $3.3 million for contravening the ASIC Act in its involvement in ...

Unpaid super penalties too light: ISA

DARREN SNYDER  |  THURSDAY, 25 OCT 2018
... Taxation Office's approach to unpaid superannuation is becoming a moral hazard whereby employers think they can escape penalty. Testimony from the ATO at the Senate Estimates committee for economics this week included the regulator saying it routinely ...

Revised penalties come down hard on white collar crime

HARRISON WORLEY  |  MONDAY, 22 OCT 2018
... behaviour. Individuals will now face up to 10 years in prison and a $945,000 fine for criminal conduct, which is double the old penalty of five years. For corporations, the penalty skyrockets from $210,000 to $9.45 million, three times the benefit gained ...