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| | | ... initiate. "The ATO will have a suite of enforcement and collection tools, including strengthened arrangements for director penalty notices and security deposits for superannuation and other tax-related liabilities... To embed ongoing compliance the ATO ... |
| | | | ... (IDMs). AUSTRAC chief executive Nicole Rose said the additional alleged contraventions were identified after the civil penalty proceedings were instituted through AUSTRAC's ongoing investigation into CBA. "These allegations are very serious and reflect ... |
| | | | ... losses for many." The record fine - which is significantly less than the SFC's original HK$605 million (AU$102 million) penalty - was deemed to be appropriate by the SFAT, adding that it acts as a stern warning that principles of professional conduct ... |
| | | | One of Australia's largest stockbroking and financial advice firms was slapped with a $358,000 infringement notice by the corporate regulator. Bell Potter Securities, part of Bell Financial Group, has been ordered by ASIC's Markets Disciplinary Panel ... |
| | | | ... failing to comply with their FOFA obligations. ASIC will continue to pursue licensees who fail to do so." In addition to the penalty, NSG will pay $50,000 in costs to ASIC and a further $50,000 towards ASIC's costs of its investigation into NSG. ASIC ... |
| | | | ... proposes massive increases in civil penalties under the Corporations Act 2001 for individuals from $200,000 to $525,000 (2500 penalty units). For corporations, it would mean almost tripling fines from $1 million to either: the greater of $2.625 million ... |
| | | | ... have greater powers to investigate and disqualify senior executives; it may seek civil penalties of up to one million penalty units if an ADI breaches its obligations under BEAR. The explanatory memorandum defined a large ADI with $100 billion or more ... |
| | | | ... obligations by not disclosing 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 ... |
| | | | ... review of its life insurance business, CBA said. The bank also confirmed yesterday it will file its defence to the civil penalty proceedings initiated by AUSTRAC by December 15. AUSTRAC will file its response by 16 March 2018. CBA said its board of directors ... |
| | | | ... obligations. The reforms are also set to improve the effectiveness of the ATO's recovery powers, including strengthening director penalty notices and use of security bonds for high-risk employers, to ensure that unpaid superannuation is better collected ... |
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