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Showing 551 - 560 of 668 results for "Penalty"

AXA fined for poor advice in the UK

LAURA MILLAN  |  MONDAY, 16 SEP 2013
The UK Financial Conduct Authority (FCA) has imposed AXA a financial penalty for giving poor investment advice to NAB-owned banks in the UK. AXA will have to pay a fine of more than A$3 million to customers of NAB-owned Clydesdale Bank and Yorkshire ...

Banned adviser faces jail time over 'tombstoning'

LAURA MILLAN  |  WEDNESDAY, 28 AUG 2013
... to insurance companies. ASIC banned Vyas from working in the finance industry for life in July. He now faces a maximum penalty of 10 years jail or a fine of $450,000 for each offence. Mr Vyas was released on conditional bail and the matter will return ...

ASIC takes action against diamond trading scheme

LAURA MILLAN  |  WEDNESDAY, 7 AUG 2013
... proceedings are listed for a directions hearing in the Federal Court in Brisbane on 20 September 2013 and the Court may impose a penalty up to $1.1 million for each contravention of the National Credit Act.

Gunns chair pleads guilty to insider trading

JAMES FERNYHOUGH  |  TUESDAY, 6 AUG 2013
... was set to begin in Tasmanian Supreme of Tasmania Court in Launceston. Gay will be sentenced on 14 August. The maximum penalty Gay faces is imprisonment for five years and/or a fine of $220,000.Gunns is no stranger to controversy. Its Tasmanian woodchip ...

Fake press release activist faces 10 years in jail

MARK SMITH  |  WEDNESDAY, 24 JUL 2013
... with one offence of contravening section 1041E of the Corporations Act 2001 (false or misleading statements). The maximum penalty is 10 years imprisonment or a fine of up to $765,000, or both. Moylan, 25, appeared before Downing Centre Local Court yesterday ...

ASIC's powers heightened under FoFA

LAURA MILLAN  |  WEDNESDAY, 17 JUL 2013
... the wake of Future of Financial Advice (FoFA) the regulator said. The new FoFA regulation has allowed ASIC to take civil penalty actions, whereas until now the regulator could only undertake actions to ban financial services workers or cancel their businesses' ...

ECT relief should apply to non-concessional contributions: SPAA

JAMES FERNYHOUGH  |  MONDAY, 1 JUL 2013
... concessional contribution limit to withdraw the funds after 1 July. The government considered the unamended law to be "a severe penalty for individuals below the top marginal tax rate." However, Slattery said penalising excess non-concessional - or after-tax ...

Storm founders will face trial

LAURA MILLAN  |  MONDAY, 1 JUL 2013
... for a summary dismissal of the case. The Australian Securities and Investments Commission (ASIC) will pursue its civil penalty proceedings alleging that the former executive directors breached their duties. ASIC seeks to ban the Cassimatises from the ...

Excess super contributions amendments pass House of Reps

JAMES FERNYHOUGH  |  FRIDAY, 21 JUN 2013
... individuals to withdraw any excess concessional contributions made from 1 July 2013 from their superannuation fund without penalty. The government said current law - which taxed concessional contributions in excess of the annual cap at the top rate of ...

Government to table concessional contributions bill

LAURA MILLAN  |  WEDNESDAY, 19 JUN 2013
... Australians to withdraw any excess concessional contributions made from July 1, 2013, from their superannuation fund without penalty. "These changes will also make superannuation taxation fairer for low and middle income earners who inadvertently breach ...