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Showing 71 - 80 of 673 results for "Penalty"

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 ...

Industry bodies call for delay to Payday Super

JAMIE WILLIAMSON  |  FRIDAY, 9 MAY 2025
... entities. Further, a grace period should be instituted to allow employers to receive education and support without immediate penalty for non-compliance, the groups recommended. In all, the collective supplied 22 recommendations to Treasury. One of the ...

Federal Court hammers defunct advice firm with $11m penalty

ANDREW MCKEAN  |  MONDAY, 28 APR 2025
... Services, since renamed DOD Bookkeeping, which has been placed into liquidation, has been slammed with an $11.03 million penalty for providing "cookie cutter" advice and breaching conflicted remuneration laws. Equiti Financial Services paid $130,250 ...

ASIC loses Block Earner case

KARREN VERGARA  |  WEDNESDAY, 23 APR 2025
... to relieve Block Earner or Web3 Ventures of any liability and pay a fine. ASIC believed that Block Earner should pay a penalty of as much as $350,000. Judge Jackman at the time said Block Earner acted honestly and not carelessly in offering the product ...

Three AFS licensees pinged over compliance breaches

ANDREW MCKEAN  |  WEDNESDAY, 9 APR 2025
... notices from ASIC after their financial advisers provided personal advice while unregistered. Each licensee paid a $31,300 penalty in March. The corporate regulator said it had "reasonable grounds" to believe the AFS licensees authorised a financial ...

APRA hits ANZ with $1bn capital penalty

ELIZA BAVIN  |  THURSDAY, 3 APR 2025
... capital add-on applied to ANZ from $750 million to $1 billion. This is now the second time APRA has increased the capital penalty after first applying $500 million in 2019 and increasing it to $750 million last year. APRA has had long-standing concerns ...

AMP staff surveillance slammed by FSU

ELIZA BAVIN  |  FRIDAY, 21 MAR 2025
... so workers would receive a "total fixed package" which is a salary that is inclusive of entitlements such as overtime, penalty rates, annual leave loading and superannuation. In addition, some contracts include a requirement for employees to work an ...