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Showing 581 - 590 of 666 results for "Penalty"

ASIC winds up unregistered managed investment scheme

BEN COLLINS  |  FRIDAY, 15 JUN 2012
... Australia for the benefit of investors, including almost US$1 million for investors in Master Fund. ASIC is taking civil penalty action against the operators of Master Fund and 13 other schemes, including David Hobbs (a New Zealand citizen and resident) ...

EOFY: Review of super contributions essential

LINDA HAUSKEN  |  TUESDAY, 12 JUN 2012
... next financial year they are $15, 000 above what they are allowed to have, so they will get hit with an extra 31.5% tax penalty on top of the standard 15%," said Bryan Ashenden, senior manager, technical consulting, practice management, BT Financial ...

Ponzi scheme operators plead guilty

LINDA HAUSKEN  |  TUESDAY, 12 JUN 2012
... the fraudulently misappropriating investors' funds charges under section 178A of the NSW Crimes Act carries a maximum penalty of imprisonment for 7 years.

Gold Coast adviser faces criminal charges

CLAIRE MCGREAL  |  THURSDAY, 15 MAR 2012
... back in court on May 15. Each of the charges relating to failing to have a reasonable basis for advice carries a maximum penalty of five years behind bars, a fine of $22,000 or both. While the charge of making a false or misleading statement carries ...

FOFA makes assumptions on churning: Synchron

CLAIRE MCGREAL  |  WEDNESDAY, 7 MAR 2012
... Don Trapnell, director, Synchron. "It is an adviser's job to do this and in fact, under FOFA, there will be a financial penalty if they don't." Trapnell claims the legislation makes the assumption that advisers who move clients between various insurance ...

SuperStream exposure draft a positive step

ELISE BURGESS  |  MONDAY, 13 FEB 2012
... capacity for tax office to develop data payments standards, mechanisms for tax office to payments standards and to outline penalty regime. The penalty regime will separate employers from large and small employers in terms of their proposed commencement ...

ASIC: Former Bell Potter adviser charged

RACHEL DAVIS  |  WEDNESDAY, 28 SEP 2011
... loss to the accounts controlled by him. The total value of the rebookings exceeded $1.8 million. Donald faces a maximum penalty of five years imprisonment, a $220,000 fine or both, for each charge. Donald was legally represented but unable to attend ...

Banned adviser faces jail term

ELISE BURGESS  |  TUESDAY, 27 SEP 2011
... Australian financial services licensees and financial institutions concerned. If convicted, each offence carries a maximum penalty of ten years' imprisonment.

ASFA calls for rethink on contribution caps

MATT WOODINGTON  |  FRIDAY, 9 SEP 2011
... support to the policy that allows individuals a one off chance to rectify contribution cap breaches by up to $10,000 without penalty. In June, new figures revealed that the Australian Tax Office had raised $400 million through tax penalties on excess ...

FOFA: Opt-in obligations, ASIC

ELISE BURGESS  |  MONDAY, 29 AUG 2011
... 1 2012 and any adviser found not to notify any client every two years, yet continues to charge fees will face a civil penalty from ASIC. The maximum penalty outlined was $50,000 for an individual and $250,000 for a body corporate. Only advisers intending ...