Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 471 - 480 of 688 results for "Penalty"

Former adviser faces fraud charges

HARRISON WORLEY  |  MONDAY, 28 MAY 2018
... period between September 2013 and October 2015. Jayaweera was granted conditional bail, however the charges carry a maximum penalty of up to 12 years imprisonment if found guilty.

Westpac off the hook in BBSW scandal

KANIKA SOOD  |  FRIDAY, 25 MAY 2018
... Bank Bills and the BBSW was set in a way that was favourable to its rate set exposure. A future hearing will decide the penalty and relief. The date is yet to be determined. ASIC has been going after potential BBSW misconduct for about five years now. ...

ASIC cancels Melbourne firm's AFSL

KANIKA SOOD  |  THURSDAY, 17 MAY 2018
... 'cash rebate' model until the trial. The court also hit a former director of the companies, Joshua Fucco, with a $650,000 penalty for being knowingly concerned in the breaches. Fucco was also asked to pay $100,000 towards ASIC's costs of investigating ...

CBA cops $25 million for BBSW rigging

KANIKA SOOD  |  WEDNESDAY, 9 MAY 2018
... inadequate for monitoring staff trading and communication to prevent the situation. The settlement includes a $5 million penalty, $15 million to a financial consumer protection fund and $5 million to ASIC for its litigation and investigation costs. FY18 ...

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 ...