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| | | Sydney advice boutique Omniwealth Services has paid a $10,200 penalty for making misleading advertising claims on its website. On a page explaining the advantages of investing in property via a self-managed super fund (SMSF), Omniwealth compared the ... |
| | | | ... performance is greater than 10%, up to a cap of 40%. Investors are also provided with an annual option to 'walk away' without penalty if their circumstances change. "Following the great results we have had with previous series, we are pleased to be offering ... |
| | | | ... said the misleading statements came from two separate online advertising campaigns. Each infringement notice imposed a penalty of $10,200. "The first infringement notice was issued for the statement "BT Super has outperformed industry super funds over ... |
| | | | A tax and accounting business has been fined a record $900,000 penalty for breaches of the Tax Agent Services Act 2009 (TASA) that all financial advisers need to comply with. The Federal Court of Australia ruled against Peter Kolya and his Canberra-based ... |
| | | | ... burden on businesses, especially small businesses." "In particular, employers will no longer incur the choice shortfall penalty if they do not provide a standard choice of fund form to their employees in these situations," a Treasury statement said. ... |
| | | | ... has since frozen over $3 million held by IIC during the course of its investigation. If convicted, Pousa faces a maximum penalty of both two years' imprisonment and a $22,000 fine. |
| | | | ... Speaking at a panel session at the ASIC summit, only two seats away from ASIC chairman Greg Medcraft, Murray said: "The penalty regime in ASIC is like being hit with a lettuce leaf, it's just not strong enough." He hinted that people working "close to ... |
| | | | ... in exchange for access to employees' superannuation," said ISA chief executive David Whiteley. "Yet there is no civil penalty for breach of section 68A of the Act to deter this behaviour. Furthermore, employees have little practical recourse if their ... |
| | | | A financial planning practice licensed under AMP-owned Charter Financial Planning has been fined with $10,200 for misleading advertising. Victoria-based Australian Financial Planning Solutions (AFPS) has been hit with $10,200 in penalties after the ... |
| | | | ... when the concessional cap was reduced to $25,000 it made the incidence of inadvertent breaches more common. The harsh penalty and the strict nature of the law meant a lot of people were caught out and heavily penalised." In a statement, TAL said: the ... |
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