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Showing 481 - 490 of 688 results for "Penalty"

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 ...

O'Dwyer proposes compulsory unpaid super law

KARREN VERGARA  |  THURSDAY, 25 JAN 2018
... 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 ...

CBA hit with fresh AML breaches by AUSTRAC

EMMA RAPAPORT  |  FRIDAY, 15 DEC 2017
... (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 ...

HSBC cops historic fine for Lehman-linked failures

JAMIE WILLIAMSON  |  WEDNESDAY, 22 NOV 2017
... 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 ...

Penalty issued for ASX rules breach

JAMIE WILLIAMSON  |  THURSDAY, 16 NOV 2017
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 ...

Melbourne advice firm cops historic $1 million fine

JAMIE WILLIAMSON  |  MONDAY, 30 OCT 2017
... 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 ...

White-collar crime penalties to skyrocket

KARREN VERGARA  |  TUESDAY, 24 OCT 2017
... 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 ...