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

Search Results

Showing 511 - 520 of 1643 results for "Investigation"

Australian banks among most fined

ELIZABETH MCARTHUR  |  TUESDAY, 12 JAN 2021
... That figure was mostly made up of Westpac's record $1.3 billion (US$910 million) fine, handed down after an AUSTRAC investigation found the bank had breached anti-money laundering and counter-terrorism financing law. The other two Australian bank fines ...

ASIC takes fintech to court

KARREN VERGARA  |  WEDNESDAY, 6 JAN 2021
... contentious. The Sydney-based firm ceased distributing the material in July 2018. Five months later, ASIC commenced its investigation. "The provision of misleading information about SMSFs undermines the SMSF sector and limits the ability of Australian ...

Jail time for tax adviser

ELIZABETH MCARTHUR  |  TUESDAY, 22 DEC 2020
... was a welcome outcome, and expressed concern that Hacker had continued to act illegally throughout the protracted investigation and litigation that has now seen him jailed. The court granted the TPB's request for permanent injunctions restraining ...

ASIC takes action on Union Standard

KARREN VERGARA  |  TUESDAY, 15 DEC 2020
... asset restraint orders in the Federal Court against EuropeFX and TradeFred to protect customers' funds while an investigation was underway. Union Standard gave an undertaking to the court to keep specified monetary amounts in a separate bank account. ...

Clive Palmer ramps up calls for Shipton's head

ELIZABETH MCARTHUR  |  FRIDAY, 11 DEC 2020
... tweeted in November. In July 2020, Palmer was charged over breaches of directors' duties and fraud following an ASIC investigation. ASIC alleges that between in 2013, Palmer dishonestly obtained a benefit or advantage for his company Cosmo Developments ...

The real cost of a bad chief executive: AICD, ACSI

ELIZABETH MCARTHUR  |  THURSDAY, 10 DEC 2020
... the chief executive of QBE, Pat Regan, departed suddenly after a complaint from a female employee. Following an investigation, the board concluded Regan's poor judgement on workplace communications did not meet its standards and Regan was ousted. His ...

Hedge fund switched traders with algorithm

KARREN VERGARA  |  THURSDAY, 10 DEC 2020
... funds, has been fined US$170 million for replacing its traders with an algorithm that drastically underperformed. An investigation by the US Securities Exchange Commission found UK-based BlueCrest Capital Management omitted critical information from ...

ASIC to improve default insurance

KARREN VERGARA  |  FRIDAY, 4 DEC 2020
An ASIC investigation found group insurance cover is poorly designed and disclosed to members who are being defaulted into occupational categories with limited data. After looking at the practices of super funds, ASIC found a high proportion of members ...

CBA in court for overcharging interest

ELIZABETH MCARTHUR  |  TUESDAY, 1 DEC 2020
... charged a different, higher rate on overdrafts. ASIC said that in most cases, the higher rates were 34%. ASIC's investigation found that the total overcharged interest exceeded $2.9 million. According to ASIC's statement of claim, the average ...

ASIC takes action against missing woman

ELIZABETH MCARTHUR  |  FRIDAY, 27 NOV 2020
... receiver and manager of the property of Caddick. The matter is next before the court on 8 December 2020. ASIC says its investigation is ongoing and it encouraged any person who is concerned they invested with Caddick to contact the regulator. Police ...