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Showing 51 - 60 of 659 results for "Penalty"

James Mawhinney contravened law: Federal Court

KARREN VERGARA | FRIDAY, 11 JUL 2025

... February 2025. On 22 December 2021, the Federal Court ordered four companies in the Mayfair 101 Group to pay a combined penalty of $30 million for misleading or deceptive advertising. In Judge Button's latest order, ASIC said it is seeking injunctions ...

SMSFs' risk appetite to change under Division 296: Wilson

MATTHEW WAI | MONDAY, 30 JUN 2025

... the illiquid holding" just to meet tax obligations. "This tax introduces what can be described as a perverse 'success penalty'," the paper said. "The better a small company or start-up investment performs, the larger the unrealised gains, and consequently ...

Telegram pump and dump schemers plead guilty

JAMIE WILLIAMSON | WEDNESDAY, 11 JUN 2025

... of dealing with money or other property that was proceeds of crime, valued at $10,000 or more. They all face a maximum penalty for the conspiracy offence of 15 years' imprisonment and a fine of over $1 million. ASIC alleges the four individuals formed ...

ASIC sues former director of crypto platform owing nearly $60m

MATTHEW WAI | THURSDAY, 29 MAY 2025

... owes close $60 million, about $20 million of which is owed to former customers of the exchange. ASIC has commenced civil penalty proceedings in the Federal Court against Guo in relation to his dealings with customer funds on the basis of statements made ...

Large penalties against super funds are appropriate: ASIC

ELIZA BAVIN | THURSDAY, 29 MAY 2025

... dragging its feet on merging multiple accounts for members. At the time, ASIC was entitled to seek a significantly higher penalty of $140 million. ASIC later told the Senate Economics Committee it did not seek a higher penalty, in part, because there ...

Former director sentenced over 'test' trading accounts

MATTHEW WAI | THURSDAY, 22 MAY 2025

... reiterating the impact was "significant" and "life changing", while causing emotional and financial devastation. The maximum penalty for an offence of dishonestly obtaining financial advantage by deception under s192E(1)(b) of the Crimes Act is 10 years' ...

ASIC takes Block Earner case to High Court

ELIZA BAVIN | WEDNESDAY, 21 MAY 2025

... financial services conduct by offering Access. On 4 June 2024, the Federal Court relieved Block Earner from liability to pay a penalty for offering the Earner product. On 18 June 2024, ASIC appealed the Federal Court's decision to relieve Block Earner ...

Former Sydney adviser sentenced to three years

MATTHEW WAI | MONDAY, 19 MAY 2025

... conditions including that he would comply with the conditions of a good behaviour bond for five year period, pay a pecuniary penalty of $20,000 and make reparation to Oasis Fund Management. Between July 2019 and January 2020, Valvo dishonestly obtained ...

Ascent Investment mastermind cops 33 criminal charges

KARREN VERGARA | MONDAY, 12 MAY 2025

... Director of Public Prosecutions. Each offence of fraud under the Criminal Code in Western Australia carries a maximum penalty of seven years imprisonment or 10 years if the person deceived is 60 years or older. The maximum penalty for each offence of ...

HCF Life fined $750k for misleading contract term

KARREN VERGARA | FRIDAY, 9 MAY 2025

... misled about their rights and the extent of their cover by HCF Life's pre-existing condition term. The court's findings and penalty handed down should serve as a message to insurers of their responsibility to ensure the information distributed to consumers ...

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Australian Unity to shed 195 roles

MATTHEW WAI

Australian Unity is reducing its workforce by 195 positions due to underperformance stemming from delays in government support for its Home Health platform and the integration of several businesses.

Count shutters limited-advice business, slips in size ranking

MATTHEW WAI

Count Financial has reportedly wound up its restricted SMSF/limited-advice service, losing some 26 advisers on the Financial Adviser Register, latest data shows.

First Super recruits head of investments from Prime Super

MATTHEW WAI

First Super has appointed a new head of investments, replacing Chris Artis, who was in the position for the past three months on an interim basis.

BMO eyes Euroz Hartleys' capital markets business

KARREN VERGARA

Euroz Hartleys confirmed it is in discussions with Canada's BMO Financial Group for a potential sale of its capital markets business for $145 million.

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