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Showing 1 - 10 of 484 results for "Civil"

ASIC challenges court ruling in Finder Wallet crypto case

ANDREW MCKEAN  |  THURSDAY, 11 APR 2024
... this year. The court found in favour of Finder Wallet and dismissed ASIC's proceedings with costs. ASIC first commenced civil proceedings against Finder Wallet in December 2022. This followed a string of actions taken by ASIC against firms such as BPS ...

'Licensee for hire' fined $1.25m by court

JAMIE WILLIAMSON  |  THURSDAY, 11 APR 2024
... obligations, including operating with almost no compliance staff or risk management processes. In July 2022, ASIC issued civil penalty proceedings against wholesale licensee Lanterne Fund Services, alleging that between March 2019 and October 2021 it ...

Court dismisses ASIC lawsuit against Finder

KARREN VERGARA  |  FRIDAY, 15 MAR 2024
... which was marketed as making use of a cryptocurrency called "TrueAUD" (TAUD). In late 2022, the corporate watchdog commenced civil penalty proceedings against Finder Wallet for allegedly providing unlicensed financial services, breaching product disclosure ...

ASIC succeeds in conflicted remuneration case

KARREN VERGARA  |  MONDAY, 4 MAR 2024
... Club around $5000 each time a client bought a property through them using their SMSF. The corporate regulator brought the civil penalty proceedings against RM Capital in mid-2019, estimating that the SMSF Club accepted more than $730,000 in conflicted ...

ASIC cracks down on scammers

CHLOE WALKER  |  MONDAY, 4 MAR 2024
... enabled misconduct. According to ASIC's latest enforcement and regulatory update, it has secured almost $60 million in civil penalties and nine criminal convictions relating to scamming in the half year to 31 December 2023. It also launched 83 new ...

Bloom Impact, MSC pulled up for greenwashing

RACHEL ALEMBAKIS  |  THURSDAY, 29 FEB 2024
... Vanguard Investments Australia, Tlau Energy and Northern Trust Asset Management. ASIC currently has three greenwashing-related civil penalty actions before the Federal Court - Vanguard Investments Australia and Active Super, while a tentative agreement ...

Bragg calls for another Financial System Inquiry, critiques ASIC, APRA

ANDREW MCKEAN  |  FRIDAY, 23 FEB 2024
... "ASIC says its enforcement record is stronger than ever, on the basis that they have had courts impose over $500 million in civil penalties as a result of their civil actions. But the reality is that there are very few criminal convictions achieved in ...

Commonwealth Bank slapped with $10.3m fine for wage theft

ANDREW MCKEAN  |  FRIDAY, 16 FEB 2024
... it pales in comparison to posting half-yearly profits of nearly $5 billion, calling it a drop in the ocean. "This is why civil penalties are so important in acting as a deterrent to companies that bake in fines as the cost of doing business," she said. ...

UniSuper buys up Deer Park site

RACHEL ALEMBAKIS  |  THURSDAY, 15 FEB 2024
... their retirement savings." As part of the acquisition and development, GPT and HB+B Property will deliver infrastructure and civil works for the planned industrial estate, providing improved access to major arterial roads for the estate and the neighbouring ...

ASIC chases 757 adviser registrations

KARREN VERGARA  |  FRIDAY, 9 FEB 2024
... personal advice as well as ongoing advice services." From February 16, those who are unregistered are in breach of a restricted civil penalty provision; the AFSL provider will have committed an offence of strict liability and contravened a civil penalty ...
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