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Showing 41 - 50 of 688 results for "Penalty"

Super funds must protect members, says Kirkland

MATTHEW WAI  |  FRIDAY, 27 MAR 2026
... that Macquarie breached the Corporations Act by failing to place Shield on a watch list. However, ASIC did not seek a penalty against Macquarie due to the exceptional circumstances of the case, including that all members were compensated.

Macquarie broke law by not putting Shield on watch list, says court

JAMIE WILLIAMSON  |  FRIDAY, 20 MAR 2026
... than 3000 super members who had been invested in Shield. This amounted to more than $320 million. ASIC did not seek a penalty against Macquarie due to the exceptional circumstances of the case, including that all members were compensated. However, it ...

Brisbane financial adviser appears in court on dishonesty charges

RIDDHIMA TALWANI  |  TUESDAY, 10 MAR 2026
... priority for ASIC," the regulator said. Prakash's charges of dealing in securities without a license warrants a maximum penalty between two and five years' imprisonment. The charges under Corporations Act could carry a maximum penalty of 15 years' ...

Former adviser incurs additional charges for dishonest conduct

RIDDHIMA TALWANI  |  FRIDAY, 6 MAR 2026
... 2026, where the additional charges were laid. The matter was adjourned to 14 April 2026 for committal mention. The maximum penalty for each offence contrary to 1041G of the Corporations Act 2001 which occurred on or after 13 March 2019 is 15 years' imprisonment. ...

Sequoia weighs InterPrac's fate, launches review

KARREN VERGARA  |  TUESDAY, 24 FEB 2026
... commissioner Danielle Press as independent chair of its inaugural AFSL Governance Committee. Last November, ASIC commenced civil penalty proceedings in the Federal Court against InterPrac. Sequoia is expected to complete its statement of claim in mid-March ...

FIIG Securities fined $2.5m for lengthy cyber failures

JAMIE WILLIAMSON  |  TUESDAY, 10 FEB 2026
... and its cyber incident response plan was not tested on an annual basis. FIIG was ordered by the Federal Court to pay a penalty of $2.5 million as well as $500,000 towards ASIC's legal costs. FIIG must also engage an independent expert to undertake a ...

Petra Capital fined over misreporting of 15k trades

MATTHEW WAI  |  THURSDAY, 5 FEB 2026
... Capital is not taken to have contravened subsection 798H (1) of the Corporations Act 2001, ASIC said. The maximum pecuniary penalty payable under ran infringement notice in relation to an alleged contravention of subsection 798H (1) of the Act, by reason ...

Australian Unity cops fine for TMD, DDO failures

KARREN VERGARA  |  MONDAY, 2 FEB 2026
... decision, Australian Unity was made to display an adverse publicity notice on the fund's website. In considering the penalty, Justice Moshinsky took into account AUFM's processes and governance systems and said such improvements "make it less ...

BPS Financial fined $14m over Qoin Wallet

ANGELIQUE MINAS  |  WEDNESDAY, 28 JAN 2026
... as crypto products can be highly volatile, inherently risky and complex." Justice Kylie Downes described the $2 million penalty for unlicensed conduct as a deterrent to BPS Financial and to the digital asset industry as a whole. Beyond pecuniary penalties ...

Aussie Olympian's brother pleads guilty for role in global scam

ELIZA BAVIN  |  WEDNESDAY, 28 JAN 2026
... the matter being dealt with for sentence in the local court. For his part in handling the money, Gunn faces a maximum penalty in the Local Court of one year imprisonment, a fine of $12,600, or both. The matter is next listed in the Downing Centre Local ...