Latest civil penalty News

ASIC’s approach to breach reporting: implementation of reportable situations regime
Welcome action on unfair contract terms
Labor delivering on promise to ban unfair contract terms
ASIC issues civil penalty proceedings against wholesale licensee Lanterne Fund Services for risk and compliance failures
ASIC sues Mercer Financial Advice for misleading customers about fees for no service and fee disclosure statement failures
ASIC sues Sunshine Loans for charging prohibited fees
ASIC civil penalty proceeding relating to charging of credit card cash advance fees in some circumstances
ASIC sues ANZ for overstating account balances and charging fees
NSW CFMMEU organiser Justin Hobson has permit suspended for three months
ASIC commences proceedings against Australian Mines and its managing director Benjamin Bell
AUSTRAC accepts enforceable undertaking from National Australia Bank
ACMA takes alleged online gambling service providers to Federal Court
Westpac penalised $113 million after multiple ASIC legal actions
Landmark High Court decision paves way for maximum penalties to be imposed against CFMMEU
Westpac subsidiary BT Funds Management penalised $20 million for incorrectly charging commissions for insurance
ASIC takes action against Macquarie Bank for alleged failures to properly monitor third party withdrawals from customer accounts
ASIC enforcement update July to December 2021
Tarnished Crown: can casino redeem itself?
AUSTRAC commences proceedings in Federal Court against Crown Melbourne and Crown Perth
Aware Financial Services Australia fined $20 million for charging fees for no service
Queensland CFMMEU official Beau Seiffert “takes odds” and has permit suspended
NSW based executive officer fined $10,656 for alleged unlawful advertising of nicotine vaping products
NatRoad urges quick passage for unfair contract law
NatRoad renews unfair contracts call for Parliamentary sitting
RI Advice to pay $6 million penalty, John Doyle to pay $80,000 penalty: Royal Commission case study
FMA publishes 2021 annual report
Statewide Superannuation to pay $4 million penalty for misleading correspondence to members
Operation of Financial Services and Credit Panel
ASIC sues OnePath for fees for no service misconduct
Jam Land remediation determination affirmed
ASIC civil penalty proceeding relating to ANZ’s Breakfree package and offset calculations
ASIC sues ANZ for misleading customers and failing to provide promised benefits – final Royal Commission investigation
Westpac and ASIC reach agreement on six regulatory matters
ASIC launches multiple legal actions against Westpac
NatRoad Calls For Unfair Contracts Bill To Be Brought On 29 November
ASIC proceeding relating to home loan application documents provided by unlicensed third parties
NatRoad Calls For Unfair Contracts Bill To Be Brought On
ASIC sues MLC Life Insurance for multiple insurance failures
ASIC sues MLC for multiple insurance failures
ACMA issues formal warning to Tabcorp for online in-play betting
ASIC sues timeshare company Ultiqa for poor financial advice outcomes
ASIC commences proceedings against Ferratum Australia for charging prohibited credit fees
CBA pleads guilty to criminal charges for mis-selling consumer credit insurance
ASIC sues former Freedom Insurance director and consultant over insurance sales incentive programs
ASIC sues debt collection company for breaching consumer credit protection laws
IAG acknowledges proceedings commenced by ASIC
ASIC launches Federal Court action and calls on general insurers to review pricing practices
ASIC commences proceedings against superannuation trustee Diversa Trustees Limited