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Showing 431 - 440 of 664 results for "Penalty"

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 ...

AustralianSuper says women face superannuation poverty

KARREN VERGARA  |  WEDNESDAY, 10 OCT 2018
New research from AustralianSuper unearths startling realities about women facing poverty in retirement. The study, conducted with the help of Monash University, found mounting evidence surrounding the gender gap in superannuation after interviewing ...

Elon Musk steps down as Tesla chair

KANIKA SOOD  |  TUESDAY, 2 OCT 2018
... stock to jump 7%, disrupting the market significantly. In a settlement, Elon Musk and Tesla have copped a US$20 million penalty each. Musk has also agreed to step down as chair and will be in-eligible for re-election for three years. The SEC also wants ...

ASIC takes Dover, McMaster to court

JAMIE WILLIAMSON  |  MONDAY, 17 SEP 2018
... Financial Advisers and Terry McMaster for allegedly misleading and deceiving clients. The corporate regulator commenced civil penalty action against the disgraced dealer group and its founder on September 12, in relation to its Client Protection Policy ...

ASIC commences civil action against ANZ

KARREN VERGARA  |  MONDAY, 17 SEP 2018
ASIC has commenced civil penalty proceedings against ANZ for its involvement in an alleged criminal cartel relating to a $2.5 billion institutional share placement in August 2015. ASIC alleged ANZ failed to notify the ASX that $791 million of the $2.5 ...

MLC, NULIS in court over $100m in illegitimate fees

JAMIE WILLIAMSON  |  THURSDAY, 6 SEP 2018
... - misled members of MLC MasterKey Super products, with the regulator seeking declarations of contravention and a civil penalty. ASIC also claims NULIS and MLC Nominees charged 220,000 members of MLC MasterKey Business and MLC MasterKey Personal Super ...

Royal Commission challenges super regulators

KARREN VERGARA  |  TUESDAY, 28 AUG 2018
... respect for the regulator and authority on the part of ASIC. Hodge also questioned why ASIC hasn't commenced civil penalty proceedings against NAB. Hodge said ASIC fell short in dealing with ANZ and CBA in relation to offering superannuation products ...

ASIC defends enforceable undertakings at Royal Commission

KANIKA SOOD  |  FRIDAY, 17 AUG 2018
... Kenneth Hayne asked earlier in the session, alluding to ASIC's negotiation of the EU contract. Why not try for a civil penalty? That's a question Hodge asked of Mullaly in CBA's context. "We had not obtained advice on that. Our view was that ...