Newspaper icon
The latest issue of Financial Standard now available as an e-newspaper
READ NOW

Search Results

Showing 61 - 70 of 673 results for "Penalty"

APRA slaps $5.5m capital penalty on KeyInvest

MATTHEW WAI  |  TUESDAY, 5 AUG 2025
APRA has placed an additional $5.5 million capital requirement and additional licence conditions on KeyInvest over risk framework flaws and questionable long-term objectives. KeyInvest is a life insurance company and friendly society that primarily ...

'We're proceeding' with Div 296: Chalmers

ELIZA BAVIN  |  THURSDAY, 31 JUL 2025
... of legislation in the parliament, we made it really clear that our first priority was student debt relief, protecting penalty rates, making medicines cheaper, making it easier to crack down on childcare centres which aren't up to scratch. Those have ...

Former adviser charged over clients' near $1m loss

MATTHEW WAI  |  WEDNESDAY, 30 JUL 2025
... when Cuthbertson was also subsequently permanently banned. The matter has been adjourned to September 23. The maximum penalty for each offence of s 1041G is 10 years' imprisonment and/or 4500 penalty units ($945,000).

Funeral insurer fined $4.75m

MATTHEW WAI  |  FRIDAY, 11 JUL 2025
ACBF Funeral Plans has been ordered by the Federal Court to pay an additional $3.5 million penalty for misrepresenting that it was Aboriginal owned or managed when it was not. ACBF, a wholly owned subsidiary of Youpla Group (then ACBF Group), offered ...

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' ...