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Showing 31 - 40 of 554 results for "Penalty"

Perth Mint enters voluntary enforceable undertaking

CASSANDRA BALDINI  |  THURSDAY, 23 NOV 2023
... could include seeking court orders to enforce the EU or cancelling it and taking other action, including commencing civil penalty proceedings in the Federal Court. AUSTRAC believes the EU will ensure that Gold Corporation addresses the AML/CTF deficiencies ...

SEC sues Kraken exchange again

CASSANDRA BALDINI  |  WEDNESDAY, 22 NOV 2023
... agreed to cease offering or selling securities through crypto asset staking services or staking programs and pay a civil penalty of $30 million. "We allege that Kraken made a business decision to reap hundreds of millions of dollars from investors rather ...

ASIC to crack down on superannuation misconduct

ANDREW MCKEAN  |  WEDNESDAY, 15 NOV 2023
... the financial system. The corporate regulator's update highlighted its actions from July to September, including a civil penalty imposed on AustralianSuper for not merging duplicate accounts, a lapse that led to members incurring $69 million in fees. ...

Fears grow around greenwashing litigation protections

ROSE MARY PETRASS  |  WEDNESDAY, 8 NOV 2023
... scenario analysis and transition planning. Climate-related financial disclosure requirements would be drafted as civil penalty provisions in the Corporations Act. It is suggested this would "reduce uncertainty for reporting entities and encourage companies ...

Sterling Income Trust executives charged

CHLOE WALKER  |  MONDAY, 6 NOV 2023
... abetting Sterling Corporate Services in engaging in dishonest conduct concerning a financial product or service. The maximum penalty for this type of offence is 10 years' imprisonment and/or a fine of nearly $100,000, ASIC said. The Sterling Income Trust ...

Westpac reports $7.2bn profit

KARREN VERGARA  |  MONDAY, 6 NOV 2023
... customer hardship requests over a seven-year period. Westpac blames it on "technology failure". ASIC has commenced civil penalty proceedings in the Federal Court, alleging that it failed to respond to hardship notices within 21 days as required by law. ...

Financial services firms hit with criminal charges

CHLOE WALKER  |  TUESDAY, 31 OCT 2023
... statements may result in cancellation of a licensee's Australian financial services (AFS) licence," it said. The ultimate penalty for each failure to lodge a profit and loss statement and balance sheet, as well as an auditor's report with the profit ...

ASIC loses case against Diversa

JAMIE WILLIAMSON  |  TUESDAY, 24 OCT 2023
... trustee knew about a now banned adviser's dodgy behaviour but failed to act. In October 2021, ASIC commenced civil penalty proceedings against Diversa, alleging it had breached the law by allowed Australian Super Find, the Australian Dealer Group ...

ANZ breached disclosure laws in 2015 raise: Court

CHLOE WALKER  |  MONDAY, 16 OCT 2023
... materially undersubscribed. ASIC will now make submissions on appropriate penalties. Last month, ANZ was hit with a $15 million penalty for misleading customers over the funds available to them in select credit card accounts.

BBY chief charged with aiding and abetting fraud

KARREN VERGARA  |  TUESDAY, 10 OCT 2023
... November 2014 to early 2015. Each offence of section 192E(1)(b) and 346 of the Crimes Act 1900 (NSW) carries a maximum penalty of 10 years' imprisonment. The matter was adjourned for further mention on December 5 and is being prosecuted by the Commonwealth ...