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| | | ... apply to advisers and firms that promote tax avoidance. Further, it will increase the time limit for the ATO to bring Federal Court proceedings on promoter penalties from four years to six years after the conduct occurred. The new legislation will also ... |
| | | | ... persons, investigate suspected breaches of the regime, and direct entities to take remedial action and to apply to the Federal Court to impose a civil penalty on accountable entities," Jones said. BEAR, the FAR's first iteration, was recommended ... |
| | | | ... requests over seven years, for which the bank blames "technology failure". ASIC commenced civil penalty proceedings in the Federal Court, alleging that Westpac failed to respond to hardship notices within 21 days as required by law. Between 2015 and ... |
| | | | The federal government is consulting on proposed superannuation legislation that will enshrine an objective to "preserve savings to deliver income for a dignified retirement, alongside government support, in an equitable and sustainable way." The Superannuation ... |
| | | | ... lifestyle in their post-work years, as well as improve the sustainability of the Age Pension and take pressure off future federal Government budgets as the population ages." In line with ASFA, SCA also updated its retirement targets considering increases ... |
| | | | ... announced in early August that it was suing former Dixon Advisory & Superannuation Services (DASS) director Paul Ryan to the Federal Court in an alleged breach of duties that led to creditors suffering significant losses. "The group is not a party to ... |
| | | | The federal treasurer has named three new commissioners who will spearhead ASIC for the next five years, as incumbents Danielle Press, Sean Hughes and Karen Chester wrap up their terms. CHOICE chief executive Alan Kirkland, Commonwealth Bank chief risk ... |
| | | | ... by 2060, ensuring superannuation is primarily used up as income for retirement and supporting the sustainability of the federal budget." Meanwhile, Industry Super Australia (ISA) commissioned analysis by Rice Warner, which revealed that replacing superannuation ... |
| | | | ... admissions of liability" in relation to the settlement. Meanwhile, AMP recently earmarked $50 million in response to a Federal Court decision regarding its contentious adjustment to Buyer of Last Resort (BOLR) terms. Its changes caused a marked reduction ... |
| | | | ... investigates fees charged to client superannuation accounts. Last month, David Mario Valvo of Sydney was ordered by the Federal Court to surrender his passport while his assets and those of his business, Your Financial Freedom, were frozen. ASIC is investigating ... |
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