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Showing 1 - 10 of 673 results for "Penalty"

ASIC boasts $830m record civil penalties

KARREN VERGARA  |  MONDAY, 20 JUL 2026
ASIC has scored a whopping $830 million in civil penalty orders in the last financial year alone, a Freedom of Information (FOI) request revealed. The FOI obtained by Lambros Photios, the founder of technology services and artificial intelligence (AI) ...

NAB-owned WealthHub cops $1m ASIC fine

VINNY VUCAGO  |  WEDNESDAY, 15 JUL 2026
NAB-owned online broker WealthHub Securities has been hit with a $1.055 million penalty after ASIC found it failed to accurately report regulatory data more than 9.5 million times over a decade. ASIC said he reporting failures undermined the corporate ...

ASIC fines Deutsche Bank for 'systemic' reporting failures

KARREN VERGARA  |  MONDAY, 13 JUL 2026
... Deutsche Bank's internal reporting framework." Deutsche Bank cooperated with ASIC's investigation and has paid the penalty. The bank is also implementing measures to prevent further reporting errors. Deutsche Bank did not admit to contravening ...

WA director admits investor deception

VINNY VUCAGO  |  TUESDAY, 30 JUN 2026
... gain an advantage for himself, contrary to section 184(2)(a) of the Corporations Act 2001. Each offence carries a maximum penalty of 15 years' imprisonment. The charges related to conduct between 13 March 2019 and 1 November 2023, during which Bowden ...

Mercer Super fined $10.3m for reportable situations failures

KARREN VERGARA  |  MONDAY, 29 JUN 2026
Mercer Superannuation Australia will pay a $10.3 million penalty after it admitted to breaching the Reportable Situations Regime on several occasions, which the Federal Court found could have had the "potential to have a detrimental effect on members." ...

ASIC charges developer over alleged $10m fraud

VINNY VUCAGO  |  TUESDAY, 23 JUN 2026
... investor funds were being used for significant gambling activity at The Star casino. If convicted, McWilliams faces a maximum penalty of 20 years' imprisonment. The matter is being prosecuted by the Commonwealth Office of the Director of Public Prosecutions. ...

SMC pushes for carers to qualify for SG

VINNY VUCAGO  |  TUESDAY, 23 JUN 2026
... for women, who carry the bulk of caring responsibilities. It's a foundation stone to begin to tackle the carer poverty penalty," Schubert said. The report also highlighted superannuation gaps affecting approximately 184,000 gig economy workers, 515,000 ...

HSBC Bank fined $35m in landmark scam-protection failures

KARREN VERGARA  |  FRIDAY, 19 JUN 2026
HSBC Bank Australia has been hit with a $35 million penalty after admitting to widespread and systemic failures in protecting customers from scams. Following a Federal Court hearing in Melbourne on June 18, Justice Bennett handed down the penalty and ...

Block Earner found to have offered an unlicensed financial product

MATTHEW WAI  |  THURSDAY, 18 JUN 2026
... products, and if so, ensure they are appropriately licensed or authorised before distributing them." ASIC commenced civil penalty proceedings against Block Earner in November 2022 over concerns on investor protection, and although Block Earner was found ...

Former fund manager admits to obstructing SEC probe

KARREN VERGARA  |  TUESDAY, 16 JUN 2026
... expense of others." Days before entering the plea, the SEC slapped Franklin Templeton's Western AM with a US$100 million penalty for failing to detect and prevent its former staffer's cherry-picking scheme. The watchdog found the fund manager failed ...
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