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Showing 451 - 460 of 664 results for "Penalty"

Labor responds to 'unfair' Budget

KARREN VERGARA  |  TUESDAY, 8 MAY 2018
... the cost of living - this is overdue relief, but it doesn't make up for Turnbull's cost of living increases and cuts to penalty rates." Chalmers said funding just 14,000 new in-home aged care packages over four years is a "hoax" as funding cut from residential ...

S&P to remove ASX healthcare firm from index

ALEX BURKE  |  FRIDAY, 4 MAY 2018
... by not communicating this information earlier, but said it would comply with the infringement notice and pay a $100,000 penalty "given the anticipated cost of contesting the [notice]." "The issue of the infringement notice, and the company's compliance ...

Lawyers slam life insurers in Royal Commission

KARREN VERGARA  |  FRIDAY, 6 APR 2018
... breaches. Based on APRA's December 2017 life insurance statistics, annualised return on net assets stood at 10.9%, yet the penalty interest rate is about 5.58%, Mennen said, warning of insurers' "windfall" when assessing claims. "Our submission also ...

New law tightens unpaid SG penalties

KARREN VERGARA  |  THURSDAY, 29 MAR 2018
... Taxation Office (ATO) access to new enforcement and collection provisions, including strengthened arrangements for director penalty notices. "Importantly, in cases where employers defy directions to pay their superannuation guarantee liabilities, the ...

Government increases market manipulation penalties

JAMIE WILLIAMSON  |  THURSDAY, 29 MAR 2018
... product used to determine a benchmark is now a specific offence with civil and criminal penalties applicable. The maximum penalty for an individual found guilty of such conduct includes a fine of up to $945,000 and/or 10 years imprisonment. Meanwhile ...

ASIC closes doors on Storm charges with two fines

ALEX BURKE  |  FRIDAY, 23 MAR 2018
... in relation to losses suffered on investments made through Storm." The regulator's investigation began in 2008. Civil penalty proceedings commenced in 2010, and the trial took place between 30 May 2016 and 30 June 2016. Speaking to Financial Standard ...

ANZ halts asset secured loans to retail customers

KANIKA SOOD  |  MONDAY, 19 MAR 2018
... ANZ will suspend loans for cars, caravans, boats, and other motor vehicles. Last month ANZ was slapped with a $5 million penalty after a court ruled a former ANZ subsidiary breached responsible lending laws two dozen times between 2013 and 2015. The ...

Court fines advice firm $7.8m

KARREN VERGARA  |  FRIDAY, 9 FEB 2018
... clients which was followed with inappropriate advice. The court also fined the companies' director, Joshua Fuoco, to pay a penalty of $650,000 for his involvement following an ASIC investigation that alleged the firms provided conflicted advice and breached ...

CBA puts away $500m for regulatory costs

DARREN SNYDER  |  WEDNESDAY, 7 FEB 2018
... overall business - about 5.5% of all profit. The banking group said it has set aside $375 million for an estimated civil penalty in relation to the ongoing AUSTRAC proceedings in the Federal Court. During the six month period it also set aside $200 million ...

CBA embroiled in rate-rigging allegations

KARREN VERGARA  |  WEDNESDAY, 31 JAN 2018
... ASIC that it rigged the bank bill swap reference rate (BBSW) and engaged in unconscionable conduct. ASIC initiated civil penalty proceedings yesterday, alleging CBA traded a large number of its products with the intention to influence the BBSW on three ...